Shiba Inu (SHIB) has experienced a massive jump in its burn rate, increasing by 900% in the past week.
With billions of SHIB tokens removed from circulation, the token burn aims to make SHIB more scarce and potentially boost its value.
SHIB's recent burn rate surge follows a dedication to reducing the token supply by the SHIB community.
While SHIB's price has only slightly risen, long-term initiatives like creating a Strategic Hub for Innovation in Blockchain and investing in infrastructure show potential for steady growth.