Shiba Inu (SHIB) Burn Rate Soars 26,000%, Will Bulls Leverage This Metric?

ShibaInu burn rate goes parabolic as dead wallets receive billions of tokens

, down by 0.87% over the past 24 hours. Per data from CoinMarketCap, the meme coin is still up in the green over the past week, during which it has inked marginal 0.40% growth.to the Shibburn tracker, the burn rate has soared as high 26,450% over the past 24 hours.With this parabolic burn rate, more than three billion SHIB tokens have now been sent to a dead wallet, complementing the losses recorded on this metric for the past few days.

The Shiba Inu burn rate is an important metric that shows how much of the token is removed from circulation, thus showcasing how the meme coin is deflationary. Deflation is a major consideration for investors, and chances are that SHIB bulls may leverage this metric to go on a defined

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