According to Shibburn, the burn rate on December 19 Shiba Inu (SHIB) has skyrocketed by 3,915,071%. This is equivalent to the permanent removal of 21,611,748 SHIB from the ecosystem.
To date, a total of 410,753,929,644,556 meme tokens from the initial supply have been destroyed, leaving approximately 585,277,528,786,334 SHIB in circulation.
However, the increase in the burn rate hasn’t significantly impacted the coin’s price. In other words, SHIB’s current dynamics are neither consistent with the burn rate nor with the principle of supply reduction and price growth.
According to CoinMarketCap, Shiba Inu is currently trading at $0,000007377, up 0,4% from the previous day. Over the past week, token-the meme fell in price by 12,5%.
It is worth noting that in the ecosystem Shiba Inu Several events occurred, including the recent altcoin rebound, which could have triggered a price increase but failed to elicit a corresponding response. About a week ago, there was a sharp surge in whale activity, with blockchain data showing that over 1 trillion SHIB tokens were transferred to exchanges in 24 hours. And even the Shibarium exploit incident failed to deter these investors.