According to data from the ShibBurn portal, the burning rate of Shiba Inu (SHIB), one of the largest meme tokens on the market, has dropped 40 percent in the last 24 hours.
The burning rate of Shiba Inu (SHIB), which closed the last week with Dogecoin on the rise, is decreasing. Although such a strong and rapid decline may seem alarming, it is stated that investors should not go into panic mode.
Shiba Inu Burn Rate Declining
In the last 72 hours, the market price of SHIB has skyrocketed, reaching a price level not seen in months. Such a rapid increase in value has led to increased market entries and more network activity, which is one of the best ways SHIB gets burned.
The decrease in the burn rate we see today stands out as a minor correction within the high values we have been watching for a few days.
According to the Shibburn website, 292,259,359 SHIBs were burned in the last 24 hours yesterday. As of the writing of the news, the number of SHIB burned is at the level of 86,506,871. This shows that there is a 40 percent decrease in 24 hours.
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