In a surprising turn, the Shiba Inu (SHIB) burn rate has seen no activity over the past 24 hours. This comes after a strong rally last week that saw heightened activity within the Shiba Inu ecosystem. According to data from Shibburn, no SHIB tokens were sent to the burn wallet in the last 24 hours. This represents an unusual cooling period for the community, as SHIB burn rates are often maintained at a steady pace.

Community Contributions Slow Down

Shiba Inu’s total burned tokens currently stand at 410,737,062,511,061 SHIB, matching the circulating supply. Despite the launch of the Shibarium burn portal, which aims to make burning easier, SHIB burn activity still heavily relies on community contributions. 

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Yet, no SHIB tokens have been burned in over 24 hours, marking an uncommon halt in burn contributions. Given that a mere $100 could burn a significant amount of tokens, the inactivity is surprising. 

Some community members view this as a temporary pause rather than a lasting change in burn trends.

Market Impact on Shiba Inu Token Price

In parallel with the inactivity in burn contributions, Shiba Inu’s price has slipped slightly. As of this writing, SHIB is down 1.67% over the past 24 hours, trading at $0.00001679. Over the past month, SHIB has experienced a more notable decline, down 4.84%, as the recent sell-off across the altcoin market intensified. This broader market weakness may also contribute to the cooling off in burn activity, as investors and the community wait for better market conditions.

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If Shiba Inu’s burn rate rebounds soon, it could provide some positive momentum for the token’s price. Many in the community hope for a price floor that might trigger a recovery, benefiting from renewed burn activity. 

For now, however, the Shiba Inu community watches closely to see if the burn rate will bounce back in the coming days.