$SHIB shows a solid burn rate increase once again as life appears on the network
, a popular meme-based cryptocurrency, has recently experienced a remarkable increase in its burn rate. In the past 24 hours, the burn rate has spiked to an astonishing 1,384%, with about 40 million tokens being destroyed.
While the increased burn rate has caught the attention of investors and traders, it is essential to consider the broader context when assessing the potential impact on price. The value of the destroyed tokens is relatively small compared to the token's overall market capitalization. As a result, the immediate effect on price might be limited.
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