Shiba Inu (SHIB), the well-known cryptocurrency featuring the face of a dog, has experienced a significant surge in attention in recent times. One particularly noteworthy development is the spike in SHIB token burns, as reported by Shibburn, a platform dedicated to tracking these burn events. On May 31, the burn rate of Shiba Inu escalated by an impressive 310%, sparking excitement and optimism within the crypto community. Traders and investors are now eagerly anticipating whether this surge in burn rate will lead to a rebound in the price of SHIB.
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Shiba Inu Burn Rate Spikes 300%, Will SHIB Price Rebound?
