Shiba Inu (SHIB), a popular meme coin, has seen a minor uptick in its burn rate feature, with more than 179 million SHIB tokens sent to dead wallets in the past 24 hours, representing 113% growth.
The burn rate is an important metric for determining the deflationary status of the coin, and with a steadily growing burn rate, there are significant upsides to watch in the meme coin ecosystem. One of these upsides is the potential for the price of the token to soar if matched with corresponding demand from buyers.
The Shiba Inu ecosystem has also been gaining recognition, with the lead developer listed as a speaker at the Blockchain Futurist Conference and the launch of Shibarium on mainnet set to compete in the DeFi ecosystem.
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