Shiba Inu has once again entered the spotlight, aligning with the broader cryptocurrency market rally. However, its burn rate tells a different story. According to the latest data from Shibburn, SHIB’s burn rate plunged by a staggering 98.79% in the past 24 hours. Only 857,632 SHIB tokens were burned during this period, marking one of the sharpest declines seen recently.
Despite this dramatic fall in the burn rate, SHIB’s market performance remains positive. At the time of writing, Shiba Inu trades at $0.00001193, reflecting a 5.5% price increase in the last 24 hours. This growth has helped SHIB maintain its position as the 16th largest digital asset by market capitalization. The token’s steady price gain has effectively neutralized the negative sentiment triggered by the lower burn volume.
Trading Volume on the Rise
Adding to the bullish sentiment, SHIB’s trading volume has also increased. It surged by 10.30% to reach $147,581,174. Throughout the month, the Shiba Inu community has sustained efforts to burn tokens and improve SHIB’s long-term value. This continued support points to a collective desire to strengthen the token’s market position.
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Investor interest in Shiba Inu remains strong, driven in part by new utility developments. Recently, the SHIB team rolled out the Karma points system, designed to protect and reward genuine community participation. This feature seeks to prevent exploitation and boost user confidence.
Focus Shifts to Shibarium and Upcoming Products
Looking ahead, Shiba Inu’s roadmap includes key product developments that could enhance its utility. The SHI stablecoin remains a central project in the pipeline. Meanwhile, the layer-2 protocol Shibarium has continued to gain attention among developers and users.
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If Shibarium maintains its current pace of growth, SHIB could witness greater adoption and potentially overtake competitors like Toncoin in the rankings.
While the SHIB burn rate has taken a sharp downturn, Shiba Inu’s overall market outlook appears increasingly bullish. With a growing trading volume, recent price gains, and renewed community engagement through tools like the Karma system, SHIB shows potential for sustained growth. As new products like the SHI stablecoin and the expanding use of Shibarium unfold, SHIB could strengthen its position among top digital assets.
