SHIB Army Excited as SHIB Burn Rate Jumps Nearly 1000%

• There was a successful burn of 7,825,621 SHIB tokens, an increase of 945.5%.
• SHIB price has remained in the red zone despite the community’s best attempts.

Shiba Inu has increased the burn rate of SHIB tokens dramatically, showing extraordinary commitment. Recent data from the Shibburn website shows an astounding increase of approximately 1,000% in the burn rate, after a period of constant reduction.

The Shiba Inu fandom has made incredible strides in the past day toward its goal of lowering the supply of its cherished meme currencies.

There was a successful burn of 7,825,621 SHIB tokens, an increase of 945.5% over the previous day’s burn of 748,502 coins. These staggering figures add to the week’s total of burnt SHIB tokens, which is rapidly approaching the 300,000,000 level.

The Shiba Inu community has been continuously burning between one and two billion SHIB tokens every seven days, thus this number represents a significant decrease from recent weeks.

Developer Shytoshi Kusama, head of the Shiba Inu ecosystem, reportedly teased the SHIB army recently, saying, “Something physical is coming.” In the tweet, one can get a preview of the final image, which has the Shiba Inu emblem in monochrome.

Price Still Trading in Red

With this tangible update, Kusama has triggered a wave of suspense and conjecture. Investors and fans alike have been attracted by his engagement and impact.

The Shiba Inu (SHIB) price has remained in the red zone despite the community’s best attempts to promote token burning. The token dropped by 30% over the weekend after hearing that the SEC has filed regulatory charges against the two largest cryptocurrency exchanges.

The price of SHIB has decreased 4.07% over the previous 24 hours as per CMC and a significant 17.41% over the past week, therefore the overall trend is still negative.