The token burn rate of Shiba Inu surged over 910% within 24 hours, with 43.6 million SHIB sent to an invalid wallet to reduce supply. Despite deflationary measures, the price of SHIB decreased by 1.58% to $0.00000857, while trading volume increased by 8.08% to $179.96 million. The ecosystem has removed 410.75 trillion SHIB from the initial supply, with a current total of 589.24 trillion tokens and a circulating supply of 585.40 trillion tokens. Although the community aims to create scarcity, broader market selling pressure and the 57 (RSI) indicate that the price will still face challenges.
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The token burn rate of Shiba Inu surged over 910% within 24 hours, with 43.6 million SHIB sent to an invalid wallet to reduce supply. Despite deflationary measures, the price of SHIB decreased by 1.58% to $0.00000857, while trading volume increased by 8.08% to $179.96 million. The ecosystem has removed 410.75 trillion SHIB from the initial supply, with a current total of 589.24 trillion tokens and a circulating supply of 585.40 trillion tokens. Although the community aims to create scarcity, broader market selling pressure and the 57 (RSI) indicate that the price will still face challenges.