According to Shibburn, the burn rate Shiba Inu in 24 hours fell by 87,39% and amounted to only 550,844 SHIB, which is one of the lowest figures in recent months.
This sharp drop in the indicator undermines one of the community’s main deflationary narratives.
The total amount of locked xSHIB tokens is 3,838,923,375,400, which is a small fraction of the total supply in circulation.
The low lock-up ratio, coupled with the sharp decline in the rate of meme token burn, suggests that holders Shiba Inu They don’t actively participate in deflationary mechanisms. This is reflected in the cryptocurrency’s price.
Since reaching August highs of around $0,000015, the price Shiba Inu is moving in a downtrend. The price is below the 100-day EMA at $0,00000905 and the 200-day EMA at $0,00001044, creating a bearish technical structure.
However, without a recovery in the burn rate, any rally in the coin will likely stall at the 100-day EMA. A recovery in the token burn rate is undoubtedly necessary for sustainable growth. Without it, holding Shiba Inu at the level of $0,00000838 will only delay further correction.