Shiba Inu (SHIB) Burn Rate Drops Significantly

The Shibburn tracker, which monitors SHIB burn activities, has reported a decline in Shiba Inu’s burn rate on both daily and weekly time frames.

Despite this, SHIB’s price has surged significantly in the last two days.

Shibburn’s recent update revealed a 42.39% drop in the burn rate on Sunday, with only 2.6 million SHIB tokens removed from circulation through burn transactions.

Six transactions contributed to this total, with the two largest burning 1.14 million and 1 million SHIB, respectively. On Friday, just over 4 million SHIB were locked in burn wallets.

For the weekly period, SHIB burns have plummeted by almost 100%, with only 26.6 million tokens burned—an approximate 98.68% decrease compared to the previous week.

Shiba Inu burns have been tied to transaction volumes on Shibarium, the Layer-2 solution launched in late August last year.