The Shiba Inu (SHIB) community has witnessed a dramatic decline in its burn rate, with the daily burn volume dropping by 99.88% following a weekend of heightened activity. According to data from the Shibburn portal, only 20,176 SHIB were burned in the past 24 hours, a stark contrast to the tens of millions of SHIB burned over the weekend. This significant reduction in burn activity coincides with a broader market volatility, as SHIB's price has fallen by 15% over the past week. The meme coin, which reached a local high of $0.00000654, has now settled at $0.00000552, establishing this level as a key support zone. Despite the recent downturn, the SHIB community continues its efforts to reduce the coin's supply, aiming to increase scarcity and potentially drive future price increases.
SHIB Burn Volume Plummets 99.88% After Weekend Surge
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