The burn rate of Shiba Inu (SHIB) surges by 14,380% in the last 24 hours

The burn rate of Shiba Inu (SHIB) has experienced a remarkable surge of 14,380% within a 24-hour period. This surge followed an ambitious strategy announcement for 2024 and 2025 by the project’s marketing team.

In a tweet shared on X (formerly known as Twitter), Lucie, the leader of the project’s marketing team with over 100,000 followers, revealed exciting plans for the future.

A key highlight of this plan is Shibarium, the project’s layer-2 scaling solution. It aims to decentralize decision-making across the community, giving all token holders a voice in the protocol’s governance.

The goal is to prevent a small group from dominating decision-making, emphasizing the importance of involving all token holders in the voting process.

This approach promotes active participation and fosters fair and transparent governance. By enabling collective decision-making, the project seeks to pave the way for long-term, sustainable growth.

Although it’s not entirely clear whether these plans influenced the burn rate, the Shiba Inu community has been actively burning tokens.

In the past day, 173 million SHIB tokens were destroyed through a total of five transactions. The community burns tokens by transferring them to “dead addresses,” effectively reducing the available supply in circulation. This reduction in supply could potentially drive up the price in response to increased demand.