Recent events surrounding Shiba Inu tokens have drawn market attention, as burning activities have ceased, raising concerns among investors.
Halt in SHIB Token Burning
In the last 24 hours, no Shiba Inu tokens have been moved to a dead wallet, indicating a complete halt in burn activity. This event was recorded by the Shibburn platform, which tracks token burn transactions.
Impact on Market Price
The price of the SHIB token has fluctuated between a resistance level of $0.0000130 and the current level of $0.00001190. The token has decreased by 2.65% in the past 24 hours and more than 8% since the beginning of June. Additionally, whale activity has also diminished, negatively affecting the market.
Risks for Future Growth
The lack of burn activity has destabilized the deflationary behavior of Shiba Inu. Without buyer support and insufficient burn rates, the token may face further price pressure and volatility.
The complete cessation of token burning for Shiba Inu poses threats to further price stability and may extend market volatility.
