Krutika Adani
Shiba Inu’s burn rate surged 781% between Saturday and Sunday.
The Surge in Shiba Inu’s burn rate corresponds to increased translation volume. Since automation, Shiba Inu’s burn rate has been directly linked and proportional to its transaction volume.
A higher burn rate decreases the tokens' supply, making Shiba Inu deflationary and increasing its price.
Shiba Inu needs a much higher burn rate to reach the $0.01 price.
As Shiba Inu slid to $0.000016 last weekend, it needs to cross the resistance at $0.000021 before it resumes its 2024 bullish trend.