Shiba Inu Burn Rate Plunges 90% in 24 Hours Despite Price Rebound
- —Only 6.72 million SHIB worth $37 burned in 24 hours, a 90.69% drop in burn rate
- —A single Coinbase user transaction 14 hours ago accounted for the entire burn
- —Weekly burns fell 20.24% to 111.26 million SHIB
- —Monthly burns dropped 86.72% to about 460.58 million SHIB
Why it matters: Slowing burns undercut SHIB's deflationary narrative, as the price recovery is not backed by supply reduction.
Source: The Crypto Basic