The popular tracking platform Shibburn has revealed that the SHIB burn metric has experienced a significant drop following the recent collapse of the crypto market. The SHIB token also saw a 32% crash. In the past 24 hours, the daily burn rate has decreased by 91.61% compared to the previous day, with 2,602,610 SHIB meme coins being transferred to unspendable addresses. The weekly burn rate, however, has increased by a staggering 3,614.46%, with 1,162,030,479 SHIB burned out of circulation. The Shiba Inu team conducted a major burn of 1,000,148,675 SHIB through the ShibTorch V2 burn portal. The Shiba Inu cryptocurrency dipped by 34% initially but then retraced to a 25% decline, following the overall market trend caused by the US government's trade tariff war.



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