Is the effort to burn SHIB losing steam?
It looks like we can't burn enough of it.
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The Shiba crypto community burned over 339 million coins last week, but SHIB's weekly burn amount went down by 58.96%. This decrease matches SHIBās weekly drop in price, which fell by 7.60%.
Despite burning a lot of SHIB last week, the coin's price is still going down, showing a bearish trend.
The rate at which SHIB was burned jumped by almost 100% in one day, with 33 million coins burned. However, the overall market is still not in favor of the meme coin, with the price trends showing more losses.
The price of Shiba Inu coin dropped by 0.06% in the last 24 hours, now at $0.00002715 USD.
Looking at SHIB's market trends and a nearly 7% drop this week, it seems like SHIB's price might drop even more. SHIB's interest and trading volume have also decreased.
It seems we can't really burn it fast enough.
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