The burn rate for Shiba Inu (SHIB) tokens has shown a neutral shift in the past 24 hours, with 0 tokens being burnt. This is unusual considering the low price of SHIB, which typically encourages token burning. The total number of SHIB burned remains at 410,728,808,987,659 tokens, leaving a circulating supply of 583,491,742,524,222 SHIB. The ShibTorch portal, which was designed to remove SHIB from circulation, does not appear to be functioning as projected, and transactions on the network are dwindling. As a meme coin project, Shiba Inu faces intense competition in the ecosystem and is working on innovations such as the Shibarium Layer-2 scaling solution.



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