The burn rate of Shiba Inu (SHIB) has surged by an astounding 49,464%, according to data from the Shibburn platform. This significant increase occurred as SHIB’s price jumped over 10% in just two hours, climbing from $0.00002523 to $0.00002784. As a result, the Shiba Inu community transferred a total of 175,311,356 SHIB to unspendable addresses. The largest burn saw 169,287,021 SHIB coins removed, with smaller burns also taking place. Despite this massive spike in burns, the weekly burn rate has decreased by 69.49%, with only 195,050,744 SHIB burned over the past week. SHIB’s price remains volatile, fluctuating around $0.00002732.

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