Slowdown in Shiba Inu Burn, Supply Pressure Continues

In the last 24 hours, over 3 million tokens have been burned on the Shiba Inu network, but a notable slowdown in the burn rate has been observed. The daily burn rate is at 15.80%, with a weekly decline of 28.12% and a monthly decrease of 37.44%. Although burn transactions continue, it appears they have not had a significant impact on the circulating supply. In the past seven days, 59.77 million SHIB have been burned, with a market value estimated at approximately $251. Over the last 30 days, the total burn has reached 286.85 million SHIB. The percentage of total supply that has been burned remains at 41.08%. To date, a total of 410,840,447,753,352 SHIB has been removed from circulation through 21,266 transactions. Within this total, the approximately 410 trillion SHIB burned by Vitalik Buterin in May 2021 has been a determining factor. The price of Shiba Inu has decreased by 1.63% in the last 24 hours, dropping to $0.000004164, while it remains up by 0.82% on a weekly basis. Bitcoin is fluctuating around $65,000, while unemployment claims in the U.S. have been reported at 187,000, against economists' expectations of 212,000. In the weekly outlook, most major assets have continued to remain in positive territory. The liquidity outlook indicates a neutral to slightly positive framework in the short term.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.