The burn rate of Shiba Inu tokens has experienced a 30% decline in the past 24 hours, raising concerns about the overall activity and its impact on the price of Shiba Inu (SHIB).
The decrease in burn activity is evident in both the total number of burn transactions and the smaller amounts of SHIB tokens being sent for burning.
The decline in burn rate has led to a relatively stagnant price for SHIB, currently trading within a narrow range.
Although the decrease in burn activity may be concerning, a potential resurgence in the broader crypto market could impact the price of SHIB in a positive manner.