CandleFocus 0 Shiba Inu in 24 Hours, What's Happening?
2024-11-04
Author: Content Editor
The Shiba Inu (SHIB) burn rate has shown a significant decrease in the past 24 hours, with no tokens being burned during this time. This suggests a cooling-off period for the SHIB community after a recent rally. The total number of SHIB burned in the past 24 hours remains at 410,737,062,511,061 tokens, highlighting the extent of the reduction efforts. Despite the introduction of the Shibarium burn portal, token burning is still largely driven by community contributions, which have ceased for over 24 hours. However, this trend is expected to be temporary, and if the burn rate recovers in the coming days, it could positively impact the token's price. Currently, SHIB is experiencing a decline in price along with other altcoins and is down by 1.67% in the past 24 hours. The recent sell-off has also contributed to a 4.84% decrease in the past month. The hope is to reach a floor price that will trigger a rebound in the token's value.
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