Shiba Inu ($SHIB ) saw a significant 243.34% increase in its burn rate over the past 24 hours, with 1.7 million tokens sent to dead wallets. The burn mechanism is part of SHIB’s deflationary strategy to control its circulating supply and stabilize prices. However, despite this spike in burns, SHIB’s price remains down by 2.76%, trading at $0.00002109.
While SHIB’s burn activity helped slightly stabilize its price after a drop to $0.00002054, the coin’s volatility persists. Market volume surged 31.11% to $538.36 million, but December's performance fell short of expectations.
For 2025, analysts believe $SHIB needs increased community engagement and new development projects to achieve higher prices. Shytoshi Kusama, SHIB’s lead, has promised an exciting year ahead, with plans to boost the ecosystem. Despite the challenges, SHIB's future remains uncertain as it heads into the new year.
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