Shiba Inu Burn Rate Soars 573% In 24hrs, Will Its Price Rally?

SHIB Burn Rate Skyrockets By 573% In 24hrs

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Second largest meme coin, SHIB Inu burn rate surged by 573% in the past 24 hrs as per the data provided by Shibburn.

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In order to reach this number, the SHIBarmy burned more than 4 million SHIB tokens in the last 24hrs.

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As previously reported by CoinGape, 1.2 billion Shiba Inu coins were burned in 223 transactions in January.

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As per coingeeko data, SHIB price soared by more than 37% over the last 30 days.

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Shibarium Beta is about to be launched and this can also be the reason for the Shiba Inu price surge.

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As per the company’s post, Shibarium is poised to become a powerful Layer 2 blockchain and undergo a transitional evolution into the Shiba ecosystem.

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In the last 24hrs SHIB price is up by 1.27% and it is currently trading at $0.00001259.

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