Shiba Inu Burn Rate Plummets by -95.44%, Price Drops
The Shiba Inu Burn initiative has been one of the most important developments in the meme coin ecosystem. With over 549,063,278,876,302 SHIB in circulation, the entire goal is to bring down the supply, create scarcity, and induce a price hike in the long term. February started off on a positive note, with over 98.2 million Shiba Inu sent to dead wallets in the last week. The burn rate also spiked by 10,000% earlier this month. However, the burn rate is also quite known for its volatile nature, just like its price. Also read: Ripple vs. SEC: Deaton Says SEC May Have Snatched Defeat From the Jaws of Victory Today seems to be a slow day for the burn rate, as it has dropped by -95.45% over the last 24 hours. Source: Shibburn Only 520,639 SHIB sent to dead wallets According to the details from Shibburn, only 520,639 SHIB have been sent to dead wallets in the last 24 hours. This has been another day where the number of SHIB burned was under a million. The price of Shiba...