[SHIB burn rate soars 540%, but prices still struggle to keep up]
News on July 5: Shiba Inu’s coin burn rate has increased significantly in the past 24 hours, with more than 78 million tokens burned, an increase of 542%. This indicates a positive momentum return in the burn rate, which helps permanently remove coins from circulation. However, despite the rapid increase in coin burn rates, the prices of digital assets have not reacted in this way. SHIB continues to lag, recording losses even as digital assets such as Bitcoin and Ethereum rebound. Compared to its all-time high price, SHIB is now one of the worst-performing cryptocurrencies. It is now down nearly 91% from the all-time high price in 2021, and the vast majority of investors are losing money on their positions.