The Shiba Inu burn rate has experienced a significant increase in the past 24 hours, indicating a shift in SHIB burning trends. Despite this spike, the actual amount of coins burned is not very substantial. Data from Shibburn reveals a 1,088% rise in the burn rate due to a single transaction, resulting in the burning of 98,136 SHIB tokens. However, when considering the current SHIB price, only $1.34 worth of tokens were burned in a day. The overall burn rate has declined by 94.4% compared to the previous week, with only 22 burn transactions occurring in a 7-day period. Efforts to sustain the burn rate, such as automated burns on the Shibarium network, have not been successful due to network performance issues. Despite community initiatives like a petition to Binance for SHIB token burns, the impact remains limited with minimal signatures garnered. Read more AI-generated news on: https://app.chaingpt.org/news