SHIB Burn Rate Continues 200% Following Launch of SHIB Visa
The launch of the Shiba Inu Foundation’s SHIB Burn Visa card was one of the main fueling factors of the community, which increased the burn rate to 200% at 144 million SHIB in 24 hours.
According to data from the Shiba Inu-related coin burning site, the coin burn rate has increased 65% after Shibburn’s Twitter account announced about the SHIB Burn Visa card being launched on July 25, which will burn a small amount of tokens every time a payment is made.
The ongoing coin burning for Shiba Inu is great news for token investors and is the best and most efficient tool on the SHIB network.
Movement of SHIB
SHIB fights fiercely to climb the ranks of the top tokens in the market. Despite the community pushing their hardest to push the tokens back into the green, token investors have to face enormous selling pressure.
Source: TradingView.
At the time of writing, SHIB trades at $0.00001071, down 12% on the weekly chart.
