Shiba Inu Burn Rate Shoots Up 1500%, Can SHIB Price Recover After Bloodbath?

Shiba Inu burn rate has once again surged 1500%, offering some support to the meme coin despite the ongoing market volatility. On Wednesday, April 9, burn data suggested that roughly 34 million coins were removed from the token’s circulating supply. In turn, crypto market watchers speculate whether a SHIB price recovery to previous highs is even possible amid broader uncertain trends.