🔥🔥🔥Why Is Participation Low Despite 81% Daily Shiba Inu Burn Rate Increase?



Shiba Inu burn rates have increased regularly, which is good news for the community. However, the burned numbers show otherwise, notably with Shiba Inu holders' SHIB burning participation.


Shiba Inu Burns 81% More

The Shiba Inu daily burn rate increased 81% in one day. Although this increase is good for meme coin, the quantity of tokens burned to produce it is low.


Shibburn reported 4.64 million SHIB token burns in the last day. For context, the tokens burned today are worth about $105.


Since this is an 81% increase, fewer tokens were burned the day before. Shibburn data show 1.9 million tokens, or $45 worth, were destroyed the day before.


Investor participation appears to be low because to this sharp drop in daily coin burning. Shiba Inu's price difficulties in recent weeks may have caused investors to be more cautious to protect their stakes.


Shib Price Drops 21%

The price and burn rate of Shiba Inu have both dropped in the recent week. Coinmarketcap reports a 15% drop in Shiba Inu prices in the past week.


After this 15% dip, the SHIB price is at $0.000023, down 50% from its March top of $0.000044. In the last day, its trading volume rose 12% to $645 million. Volume increases frequently indicate bitcoin interest. If so, the Shiba Inu price may reverse as investors wager again.


SHIB is currently trading at $0.0000228, up 4% daily. Despite its challenges, the meme coin has a market worth above $13.5 billion, making it the 11th-largest cryptocurrency and ahead of Avalanche and Polkadot.

#SHIB #Memecoins #BullorBear