Shiba Inu started the week quickly and experienced a significant increase in the burn rate. According to Shibburn data, the burn rate in meme coin has increased by over 200% in the last 24 hours. A significant portion of these cremations took place with the support of the community.
As of January 22, Shiba Inu breeding has increased by 232.85%. Additionally, the total burned in the last 24 hours meme coin The number also attracted attention by reaching 46.60 million. The 30.46 million burn accompanied by the 13.63 million SHIB burn by one wallet was the main driving force behind the total burn.
Traders are echoing this optimism as the community continues its efforts to strengthen the token economics of the leading meme coin. However, the price in the same period cryptocurrency followed the trend in the market and recorded a decline.
Shiba Inu price is trading at $0.000009197, down 3.27% in the last 24 hours. Additionally, market capitalization and trading volume also decreased significantly, falling by 3.27% and 21.39% respectively. The decrease of 5% on a weekly basis and 14% on a monthly basis shows another negative side of the business.