The Shiba Inu (SHIB) burn rate has dropped by 79.89% in just 24 hours, raising concerns about the meme coin's future price.
Shiba Inu's burn mechanism, crucial for its tokenomics, saw a significant decline in burn rate, with only 8,258,774 SHIB coins burned recently.
The community-based burn process of Shiba Inu might reflect a negative shift in market sentiment, with the coin's price experiencing a notable decrease.
Despite the burn rate crash, analysts remain optimistic, with projections suggesting a potential surge for SHIB price to $0.000035 based on strong upward momentum.