Shiba Inu (SHIB) holders and observers have recently noticed an unusual development: no SHIB tokens were burned in the last 24 hours.

Typically, there is always some level of token burning, making this inactivity stand out. This halt in the burn rate, as reported by Shibburn, is surprising, especially considering SHIB's current low price, which would usually incentivize token burning.

The total amount of SHIB burned still stands at 410,728,808,987,659 tokens, leaving the circulating supply at 583,491,742,524,222 SHIB.

This unexpected halt in burning activity has sparked concerns, particularly regarding the ShibTorch portal, which was introduced recently to automate the token burning process.

Unlike the previous manual method, where community members would send tokens to a burn wallet, ShibTorch was intended to simplify this process. However, the lack of burning suggests that the portal may not be functioning as expected, or that there has been a decline in network transactions, leading to fewer tokens being burned.

As competition in the meme coin market intensifies, Shiba Inu's position as the second-largest meme coin is increasingly under pressure.

This has placed a greater burden on its developers, including Shytoshi Kusama, to innovate and keep pace with the evolving market landscape.

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