In the Shiba Inu ecosystem, the past 24 hours have seen a striking uptick in token burning. According to reported data, a total of 12.76 million SHIB tokens were permanently removed from circulation within a day. This development pushed the burn rate up by an impressive 677.42 percent. Despite this dramatic increase, SHIB’s price did not benefit from the move and continued its downward trajectory, trading at $0.000004720 at the time this article was written.