Shiba Inu Burning Rate Declines 53% in the Last 24 Hours

Krutika Adani

Only 9 Million $SHIB Burnt

In the last 24 hours, just 9 million $SHIB has been burnt, a 50% decline from the 24 hours before press time.

Factors Responsible for Low Burn Rate

Low burn rates were caused by low market activity, which in turn were caused by falling crypto prices.

Why Shiba Inu Burn Rate Matters

At launch, Shiba Inu had more than 1,000 trillion tokens, of which about 580 trillion are still in circulation.

Impact on Price

If the burn rate increases, the total number of coins in circulation falls, and the token price rises.

Levels To Watch

Shiba Inu is presently at $0.000017, below which the price may fall to $0.000011 if markets fail to recover above $0.000020.