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Shiba Inu

<ul> 
 <li>Shiba Inu witnessed a remarkable 459% surge in its burn rate, removing over 115 million SHIB from circulation.</li> 
 <li>The total burnt SHIB tokens amount to over 410 billion, valued at $3,592,719.5.</li> 
 <li>Despite a 4.46% price drop in the last 24 hours, Shiba Inu aims to capitalize on its positive deflationary trend to prevent further slips.</li> 
</ul> 
Shiba Inu (SHIB) has experienced a dramatic surge in its burn rate, raising hopes for a much-needed market recovery. According to <a href="https://www.shibburn.com/">data from Shibburn.com</a>, the burn rate skyrocketed by an astonishing 459% in the past 24 hours, settling at 148.49% at the time of writing.&nbsp; 
This upsurge has led to the permanent elimination of more than 115 million SHIB tokens from the market, representing a noteworthy step towards achieving market stability. The cumulative amount of SHIB tokens burned has reached an impressive 410 billion, equivalent to a monetary value of $3,592,719.5. 
This remarkable achievement underscores the collective efforts of ecosystem partners who have contributed to the manual burning of SHIB, emphasizing its pivotal role in the token’s survival. Meanwhile, despite a recent 4.46% dip in price over the last 24 hours, with SHIB currently valued at $0.000008741, Shiba Inu remains steadfast in its quest for a rebound.&nbsp; 
The positive deflationary sentiment brought about by the surge in the burn rate is seen as a crucial factor in preventing further slips in price. Shiba Inu has recently faced challenges, losing ground and experiencing a <a href="https://cryptonewsland.com/10000-xrp-at-100-per-coin/">10</a>.22% drop in the past seven days. 
The current market dynamics raise speculation about the potential impact on price growth. While the burn rate’s recovery is a noteworthy boost, some believe that more substantial growth may be necessary to catalyze a significant upsurge in the meme coin’s price. 
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The post <a href="https://cryptonewsland.com/shiba-inus-burn-rate-skyrockets-will-the-price-follow-suit/">Shiba Inu’s Burn Rate Skyrockets: Will the Price Follow Suit?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Shiba Inu’s Burn Rate Skyrockets: Will the Price Follow Suit?

Crypto News Land

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