Shiba Inu burn rate registers 190% surge, will the price hike follow soon

ambcrypto.com:

Shiba Inu and the native token SHIB are creating headlines within the crypto market since the beginning of 2022. A day ago SHIB initiated some adjustments to the reward distribution using the LEASH LOCKER feature. Indeed, it helped SHIB to register such much-needed gains under its belt.

The burn tracker website Shibburn records each and every interval of SHIB burning mechanism. Notably, a significant impressive stash of Shiba, over the years, sent to unspendable wallets has decreased the circulation in supply. This has been done to increase Shiba Inu‘s price.

In the latest development, the burn rate of the second biggest meme crypto increased by almost 190% in the past 24 hours.

Source: Twitter

According to the Shibburn account on Twitter, a total of 141,010,050 Shiba tokens have been destroyed- sent to dead-end wallets and locked there permanently.

But, where’s the demand coming from? Well here’s the latest source.

After almost six months of anticipation, the largest European exchange has finally added support for Shiba Inu. Europe’s largest exchange, Bitstamp announced the listing of Shiba Inu earlier on 7 June. Users can trade the popular meme coin against the U.S. dollar and the euro. Order books in limit-only mode would start from 7 June. Users’ limit orders will then be matched within the same day.