Shiba Inu Burn Rate Skyrockets by 4500%, Removing Over 50 Million Tokens

Shiba Inu Burn Rate Surges 4500%, Fueling Market Optimism

With a startling 4500% increase in the SHIB burn rate on Thursday, the Shiba Inu coin once again sent a ripple of bullishness over the wider market. More than 50 million coins were removed from the token’s supply, according to recent burn data, highlighting the cryptocurrency’s potential for further growth. At the same time, the intraday movement of the meme coin showed impressive gains, adding to the excitement regarding the future movements of the cryptocurrency.

Binance Expands SHIB Trade Options Amid 4483% Surge in Burn Rate

Shibburn’s official burn tracker data from November 28 indicates that the SHIB burn rate increased by 4483% the previous day. The destruction of 53.61 million tokens is the main cause of this enormous spike. In addition, the market supply for dog-themed meme crypto reached 589.26 trillion SHIB after token destruction.

According to CoinGape, Binance has lately increased the range of trade options for Shiba Inu coins. The top cryptocurrency exchange started offering spot grid and spot DCA for SHIB/USDC, opening the door for more capital to enter the token ecosystem. Given all of this, the price of Shiba Inu increased 1.65% to $0.00002557 at the time of writing. As previously stated, the coin exhibits a positive trajectory against the backdrop of increased market offerings for assets and a jump in the SHIB burn rate. However, considering the uncertain environment in crypto, it remains unclear whether this positive trend will continue.

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