Over the past 24 hours, Shiba Inu (CRYPTO:SHIB) has experienced a remarkable increase in its burn rate, skyrocketing by 579%, resulting in the destruction of nearly 10 million tokens.

This surge in burning activity underscores SHIB's strategic approach to managing its token supply and creating scarcity to potentially drive value appreciation.

With over 40% of SHIB's total supply already eliminated through burning mechanisms, the project demonstrates its commitment to long-term sustainability and value creation.

Despite a minor daily price decline, SHIB's weekly performance indicates a significant 9% increase, reflecting its resilience and appeal to investors amidst the burning trend in the crypto market.