Shiba Inu Burn Rate Slides

parag jadhav

Burn Rate at 1 Million per Day

Shiba Inu's burn rate has fallen to 1 million SHIB per day, and the trend indicates further decline in the near future.

Market Downturn Affects Burn Rate

Despite bullishness among the memecoins, the overall bearishness in the markets has impacted the number of transactions that, in turn, has impacted the burn rate.

Why Burn Rate Is Crucial for Shiba Inu

Shiba Inu’s large 588 trillion token supply makes it difficult for crypto to achieve high prices. Therefore, it is necessary to burn tokens to reduce the market supply.

How High Do Burn Levels Go?

Shiba Inu has made notable token burns in the past, with some reaching up to hundreds of millions of SHIB.

Future Outlook

As long as the overall market remains sluggish, no recovery can be expected in Shiba Inu’s burn rate.