The Shiba Inu (SHIB) burn rate is again the focus, as it experienced a significant decline just a day after recording a massive spike in burn rate activity. This has undoubtedly raised concerns, considering how vital these token burns are to the SHIB ecosystem.
Shiba Inu’s Burn Rate Declines By 99%
Data from the burn tracking website Shibburn shows that Shiba Inu’s burn rate has declined by 99.5% in the last 24 hours. This is in stark contrast to the previous day, when it rose by 18,000%. However, it is worth noting that this increase was primarily due to one transaction with a particular address burning 650 million SHIB at a go.
Since then, only just over 3.2 million SHIB tokens have been burnt, which explains the massive drop in the burn rate. Specifically, this drop can be attributed to the decrease in SHIB trading activity in the last 24 hours. Data from CoinMarketCap shows that SHIB’s trading volume declined by 35% during this period.
The decline in tradin
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