Shiba Inu burn rate spikes over 50%: What does it mean for SHIB?

The number of Shiba Inu [SHIB] tokens burned in the last 24 hours has increased by 56.16%, data from Shibburn showed. A day before this

tokens burned in the last 24 hours has increased by 56.16%, data from Shibburn showed. A day before this figure decreased, and was less than 40 million tokens.

However, AMBCrypto checked Shiba Inu’s social dominance to see if there had been any changes. Social dominance measures the rate of discussions about a project when compared to other top 100 assets. From a price perspective, this presents a potential buying opportunity before the price jumps. Should the price of the token begin to rise, social dominance might also increase, and this could be a case of FOMO.

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