Shiba Inu's Burn Rate Torches 1866%—What's Going On?

  • Over 42 million Shiba Inu (CRYPTO: SHIB) tokens were pulled out of circulation Sunday, putting additional deflationary pressure on the popular dog-themed meme coin. What happened: The burn rate blasted 1866% in the last 24 hours, resulting in a supply squeeze of 42.122 million SHIB tokens, according to Shibburn, the coin's official burn tracker.