Shiba Inu (SHIB) Burn Rate Surges 781% Over Weekend

Krutika Adani

Burn Rate Surged on Sunday

Shiba Inu’s burn rate surged 781% between Saturday and Sunday.

Rise in Shiba Inu Transactions

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.

Impact of Burn Rate on Price

A higher burn rate decreases the tokens' supply, making Shiba Inu deflationary and increasing its price.

Will Shiba Inu Reach $0.01?

Shiba Inu needs a much higher burn rate to reach the $0.01 price.

Levels to Watch

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.