Hold on to your seats, people! 🚀 The burn rate of Shiba Inu skyrocketed by an incredible 5,809%! Yes, you read that right, almost six thousand percent, just as SHIB celebrates its first five years. This is crazy, especially seeing how the cryptocurrency market is somewhat shaky.
Let's see, here's the thing: the Shibburn numbers don't lie, in the last 24 hours more than 4.1 million SHIB tokens were burned. This is to reduce the total supply of coins and, in theory, make the remaining ones worth more. But here comes the giant "but": despite this massive burn, the price of SHIB plunged by 5.85%, landing at $0.00001208. Its market capitalization is around 7.1 billion dollars and the trading volume in 24 hours is $305.91 million. What a contrast! 🤯