Shiba Inu

<ul><li>Shiba Inu&#39;s 24-hour burn rate rose 71.55%, removing 42.76M tokens while the price fell 3.95%, with a market cap of $13.27B.</li><li>Despite a weekly burn rate spike of 281%, SHIB&#39;s price dropped 8.86% in 7 days, underperforming the global market and Ethereum peers.</li><li>A recent 2,355% burn surge removed 110.47M SHIB tokens, but the supply cut has not yet reversed the ongoing price decline.</li></ul>According to <a href="https://x.com/shibburn/status/1789158540432568693" rel="noopener noreferrer nofollow">data</a> from Shibburn, the leading tracker for SHIB burns, the burn rate for Shiba Inu, the popular meme coin, increased by 71.55% over the past day, leading to the destruction of over 42.76 million tokens in a 24-hour period. This rapid reduction in supply, which follows a 281% weekly surge in burn rate, has not yet translated to a stabilization or rise in SHIB&#39;s value.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/f2bfa37b466c4b7c966d499a6b5953b4.png" />How Does the Burn Impact Shib’s Price?Shibburn&#39;s latest data reveals the broader trends of SHIB&#39;s performance. Over the past 24 hours, the meme coin has lost 3.95% of its value, with the current price sitting at <a href="https://www.coingecko.com/en/coins/shiba-inu" rel="noopener noreferrer nofollow">$0.00002252</a> and a 24-hour trading volume of $430,049,137.89. Market capitalization stands at approximately $13.27 billion, marking a decrease of 3.72% during the same period.Over the past seven days, SHIB has recorded a cumulative decline of 8.86%, underperforming both the global cryptocurrency market, which is down by 4.2%, and other Ethereum-based cryptocurrencies, which have collectively gained 12.7%. The circulating supply remains at approximately 590 trillion SHIB tokens, underscoring the challenge of driving substantial price growth through burn efforts alone.<a href="https://cryptotale.org/shib-burn-rate-soars-amid-continued-price-decline/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

SHIB Burn Rate Soars Amid Continued Price Decline

CryptoTale

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