Shiba Inu Burn Rate Takes a Dive: Plunges By -100%

Shiba Inu, a prominent meme coin and the second-largest of its kind, has garnered attention for its continuous development efforts. One of its notable initiatives is the Shiba Inu Burn, which aims to reduce the token supply.

The burn rate of Shiba Inu (SHIB) tokens has been known to fluctuate, with some days witnessing substantial increases and others experiencing declines. Recent data from Shibburn reveals a significant drop of -100% in the burn rate over the last 24 hours. This means that no tokens were burned during this period.

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Zero SHIB burned in the last 24 hours

According to Shibburn’s data, the burn rate for Shiba Inu was recorded as zero in the last 24 hours. This indicates a significant decline in the burn rate, as there were no coins burned during this period. This is in contrast to previous days when the burn rate reached significant levels, with over a billion SHIB being burned.

The burn rate has often received criticism for failing to maintain consistency. According to the details from CoinMarketCap, SHIB is trading at $0.00001023 with a 1.55% drop in value over the last 24 hours.

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With lead developer Shytoshi Kusama unveiling an estimated launch date for Shibarium, the burn rate could possibly spike after its launch.