Recent data from the popular blockchain tracking platform Shibburn indicates a sharp decline in the burn rate of the meme cryptocurrency SHIB. Despite the negative news, an increase in asset prices is noted.
Decrease in SHIB Burn Rate
According to Shibburn, over the past week, the burn rate of Shiba Inu has significantly fallen to just 94.05%. Nevertheless, millions of SHIB have been burnt from circulation, totaling 9,434,807 SHIB. Furthermore, the daily burn rate is even more disheartening, with only 169,895 SHIB burned, reflecting a decrease of 95.46%.
Short-Term Price Recovery
In the past 24 hours, the SHIB cryptocurrency showed a slight rebound, increasing by 3.25% after a significant drop of 12.38% between Sunday and Monday. However, at present, the price has fallen again by 1.18%, with the token trading at $0.00001210.
Conclusion
In conclusion, despite the sharp decline in the burn rate of SHIB, the cryptocurrency has exhibited some willingness for price recovery. Monitoring these trends will be crucial for the future of the Shiba Inu community.
Overall, despite the current decline, market conditions may change, and further observations of community activity will play a key role in its future.
