Shiba Inu (SHIB) Shows Significant Reduce in Circulating Supply

• SHIB has shown another massive burn of 40 million in the last 24 hours.
• The significant increase in the burn rate impacts the trading price.

Shiba Inu (SHIB), the popular memecoin, has witnessed a huge increase in its burn rate. Recently, the memecoin has burned 1.2 billion SHIB tokens worth $11,000. Following that, SHIB shows another massive burn in the last 24 hours.

Shibburn reported that 40,877,932 SHIB tokens were burned in the last 24 hours. These 40 million tokens were burned in 12 transactions. The significant increase in the Shiba Inu burn rate potentially impacts the trading price and attracts attention from investors.

According to Shibburn, in the last 24 hours, 34,806,668 SHIB tokens were burned. Even with the recent 40 million burns, the total burn rate has shown a decline of 42.30%.

At the time of writing, the trading price of Shiba Inu is around $0.000008563, with an increase of 0.23% in the last 24 hours. The trading volume of SHIB has declined by 1.31%, according to CoinMarketCap.