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SHIB Burn Rate Jumps 540% But SHIB Price Struggles to Keep Up

July 5 (Cointime) - Shiba Inu's community is dedicated to reducing the circulating supply of the meme coin, resulting in a significant increase in the SHIB burn rate over the past 24 hours. The burn rate saw a 542% increase compared to the previous day, with over 78 million tokens burned.

However, despite the positive momentum in the burn rate, the SHIB price has not responded in kind and is still down almost 91% from its all-time high. SHIB's daily trade volume is currently at $115 million, a 3.24% increase from the previous day's figures.

Shiba Inu Shiba Inu $0.00
-3.15%
Shiba Inu
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