The Shiba Inu ecosystem is facing scrutiny as it reports no burn activity in the past 24 hours, raising alarms among investors. This stagnation comes after a period of increased burn metrics, leading to concerns about the future price stability of SHIB. According to the experts cited in the publication, the situation is becoming critical.
Current Circulating Supply of SHIB
According to data from the Shibburn platform, the absence of burn activity has left the circulating supply of SHIB at a staggering 585 trillion tokens. Of this, approximately 383 trillion SHIB are currently staked and removed from circulation, highlighting the ongoing challenges in reducing the overall supply.
Investor Concerns Over Price Stability
Investors are particularly worried that the lack of deflationary measures could negatively affect SHIB's price stability. The ecosystem's reliance on burning tokens to create scarcity is critical, yet the current inactivity raises questions about its effectiveness. Critics have pointed out that despite the burn mechanism, trillions of tokens remain in circulation, limiting its impact on price.
Recent Price Movement
Currently, SHIB is trading at $0.0000007042, marking a significant 24.5% decline over the last day. This drop underscores the potential risks associated with the stagnant burn activity and its implications for the Shiba Inu community.
The Shiba Inu ecosystem is currently experiencing a notable halt in its token burn activity, contrasting sharply with the previous surge. For more details, see the full report here.
