Shiba Inu (SHIB) Down 4% as Burn Rate Slips Further, Here's What Can Reverse Trend

.Shibtoken seeks an urgent trend reversal as burn rate falls

over the past 24 hours to $0.00001309. This drop is being fueled by the massive slump in the burn rate, which is pegged at 90.69% at the time of writing, per data from Shibburn.com.

Shiba Inu is a meme coin that was designed to serve as a Dogecoin killer. While this was its initial mantra, it has expanded its core vision and relevance to its community over the years. The digital currency is now the 14th largest asset with a market capitalization of $7.18 billion, proof of how dominant it is as a community-driven token.

The token surpasses the influence of Dogecoin with respect to its embrace of a deflationary strategy to reduce its bogus supply. Despite the slowing burn rate, a total of 2,020,294 SHIB units have been burnt over the past 24 hours, a seeming breather from the 27,164,707 SHIB burnt in a day earlier this week, as

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