According to BitJie, after several days of decline, the Shiba Inu (SHIB) burn rate reversed sharply, surging 1,567% in a single day. Over 1 million SHIB tokens were burned in the past 24 hours, compared to fewer than 200,000 in the previous days. Despite the price of SHIB falling 1.47% to $0.00000825 in the last 24 hours, the sudden increase in burn rate has sparked speculation about its potential long-term impact. Traders are closely watching market developments ahead of Coinbase’s planned SHIB perpetual futures launch in the U.S. on December 15.
Shiba Inu Burn Rate Surges 1,567% Amid Market Volatility
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Summary
Market volatility pushed Shiba Inu’s (SHIB) burn rate up 1,567% in 24 hours, per BitJie. Over 1 million tokens were burned, a sharp rise from under 200,000 before. SHIB fell 1.47% to $0.00000825 amid the volatility. Traders are watching for Coinbase’s SHIB futures launch on December 15.
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