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Shiba Inu experienced a significant token burn, with over 100 million SHIB burned in the last 24 hours, marking a 1,300% increase from the previous day’s burn rate.
Despite the burn, SHIB’s price fell by 4% daily and 3% weekly, in line with the broader crypto market downturn, although the launch of the Shibarium layer-2 solution may provide future price support.over 100 million tokens burned over the past 24 hours. The figure represents an approximate increase of 1,300% compared to the burning rate the day before.
Despite the skyrocketing burn figure today, SHIB has been on a downfall in resonance with the entire cryptocurrency market. It plunged around 4% in the last 24 hours and 3% on a weekly basis., the memecoin saw almost 1.5 million tokens destroyed throughout the previous month. The record day was October 28, when more than 250 million SHIB were removed from circulation.
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