Shiba Inu Burn Rate Sees a -97% Decline

Vignesh Karunanidhi
Shiba Inu Burn Rate Sees a 97% Decline
Source: Crypto News Flash

Shiba Inu is a prominent meme coin, earning its place as the second largest meme coin. The team behind SHIB has shown consistent efforts towards its development, as evident from its various developments, such as the Shiba Inu Burn initiative. The SHIB burn rate as of today though, has dropped dramatically.

The burn rate of SHIB has gained a reputation for its fluctuating nature, with some days experiencing a significant increase while others see a decline. The burn rate has been quite consistent over the past few days, with billions burned every day. On certain days, the burn rate has also soared by over 8,000%.

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However, according to the latest data from Shibburn, the burn rate has dropped by -97% in the last 24 hours.

Source: Shibburn

Shiba Inu burn rate drops by -97%

The latest data shows that only 30,242,040 SHIBs were sent to dead wallets in the last 24 hours. This has also sent the Shiba Inu burn rate down by -97.78% during this period. The burn numbers are lower in comparison to certain days when 2 billion SHIBs were burned in a single transaction.

The SHIB army has to ramp up the burn game to bring the soaring burn rates back. Additionally, the price of Shiba Inu has seen a decline of over 2% in the last 24 hours. At press time, SHIB was trading at $0.000008442 according to CoinMarketCap data.