The cryptocurrency industry is seeing a fresh surge in price as the combined market cap jumped 5.06% to $3.62 trillion. Benefiting from this positive momentum is Shiba Inu (SHIB), the second-largest meme coin, which surged 7.05% in 24 hours to trade at $0.00002926, according to CoinMarketCap data. Amidst these positive growth expectations, there is a shift to watch in Shiba Inu’s growth trajectory.
Shiba Inu and Burn Rate Are Not Aligned As market data shows, there is a significant discrepancy between SHIB’s trading metrics and Shiba Inu’s burn rate. While CoinMarketCap data puts the current trading volume at $1.46 billion, up 7.6%, Shibburn data indicates a lower burn rate.
Godfrey Benjamin As of writing, only about three million SHIB tokens have been burned in the space of 24 hours, a drop of over 78%. While SHIB has suffered a steep decline throughout the week amidst a massive sell-off, its metrics are just beginning to recover, and the slow burn rate could hinder an actual price recovery. The Shiba Inu burn rate is an ecosystem metric that indirectly measures the community’s optimism about the SHIB project. This metric helps the community maintain positive sentiment that could have a cascading effect on the SHIB price. Market Shift Through Other Ecosystem Updates Shiba Inu is a dynamic project with several positive ecosystem updates. While the Shiba Inu whales caused a massive sell-off earlier in the week, their gradual return is helping to boost overall market demand. As anticipation for new product launches grows, the community has remained engaged with Shitoshi Kusama . Notably, his messages on X have continued to buoy SHIB’s hopes.
