Shiba Inu, the main rival of Dogecoin and another popular same, recently saw a significant push. The main driver behind this rally is the burning rate, which increased by a surprising 807% In a 24 -hour period, according to data from Shibburn. In total, the Shiba Inu ecosystem withdrew 20,530,875 traffic shibs in the past 24 hours.
For those who are not familiar, the combustion of coins is the constant traffic elimination process of cryptocurrency tokens by sending them to an inaccessible portfolio address. The objective is to reduce the offer of tokens, which, in turn, can increase the value of the remaining parts.
Currently, Shiba Inu (SHIB) is traded at $ 0.0000,1603, reflecting an increase of 11% compared to last week.