Buy before $SHIB hit $0.1 or $1!

Continue burning is in progress

👉According to data from Shibburn, only 1,813,008 SHIB tokens were burned in the past 24 hours.

👉Despite the relatively small amount, the daily burn rate has surged by a surprising 112%. ADVERTISEMENT

👉The burn rate increase is calculated based on the prior day's activity.

👉The day before last, 851,788 SHIB were burned, marking a 63% drop in the burn rate.

👉Since the previous burn volume was even lower, the burn in the last 24 hours appears as a significant jump percentage-wise.

👉Notably, the increase in burn rate over the last 24 hours correlates with the SHIB price's recovery.

👉While burning SHIB contributes to reducing its total supply and increasing scarcity, present burn volumes are substantially lower. This could be related to the current broader market conditions, which have seen a sell-off in most crypto assets since the weekend.

👉This bearishness has led investor enthusiasm to fade across the board, as indicated by the SHIB burn rate.

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