Shiba Inu burning involves the permanent destruction of some of the existing tokens. The burning process aims to reduce the total supply of the Shiba Inu to have a positive effect on the supply and demand balance of the tokens. This transaction may increase the meme coin price and increase the investors’ confidence in the Shiba Inu. Accordingly, the Shiba Inu community periodically conducts token burns to control supply and increase investor confidence.
On the other hand, the Shiba Inu’s attempt at incineration often comes under criticism for its volatile nature. Its burning rate has been quite slow for the past few days and has not gained momentum.
According to Shibburn data, the burn rate has dropped 6.19% in the last 24 hours and only 17,817,402 SHIBs were sent to dead wallets.
It is currently unclear why meme coin burns have been on the decline for the past few days. Only six transactions were included in the incineration event in the last 24 hours. A transaction that took place 17 hours ago at press time sent only 1 SHIB to the dead wallet.
Since the days when millions and billions of SHIBs were burned, the rate of burning has dropped significantly. The price of SHIB is also standing without major volatility. At press time, the meme coin is trading at $0.00001112 without any significant activity in the last 24 hours.
Alongside these, a leading travel company has decided to double down on the Shiba Inu trend. The firm has announced a new affiliate program for meme coin holders only. This program offers participants the opportunity to earn 5.5% interest.
Hey, 🐕 $SHIB holders!
Join the Travala Affiliate Program! 💙
Refer friends & earn up to 5.5% for every booking made through your referral link. 🏖️Unleash the power of the #ShibaArmy & spread the word with @Shibtoken!https://t.co/5QBvVPHjcU pic.twitter.com/FERxzTxFZc
— Travala.com (@travalacom) April 5, 2023
Accordingly, users will be paid for each booking made through referral links. The travel booking platform introduced its program and invited members of the Shiba Inu community to take advantage of this opportunity.
You can follow the current price action here.