$SHIB price on the market was not doing as well as you would expect, but the 900% spike in burning rate might solve this problem
as the token's value has been rapidly descending in the last five months. A large part of the problem was tied to a decline in burning volume that has been fueling the recovery of SHIB on the market. Luckily, the situation is finally changing.
According to Shibburn, the burn rate on the network has spiked massively. The most recent data shows that SHIB saw a massive 910% burn spike in the last 24 hours, making it one of the biggest burn increases in the last few weeks.The main burning address ending with 3963d removed more than 5 million tokens from the network's circulation, making it the biggest contribution to the amount of Shiba Inu burned in the last 24 hours.
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