According to crypto analytics platform CryptEye, SHIB burning rates have decreased since the beginning of autumn compared to the summer season.
In the summer, approximately 4 billion SHIB was burned per month, while 2.36 billion SHIB was sent to dead addresses in the past month and a half. This indicates a decrease of approximately 60 percent in the burning rate.
Decrease in SHIB Burn Rates
Burns at SHIB have dropped significantly over the past month and a half compared to the summer, according to CrypEye. In the summer, approximately 12 billion SHIB tokens were sent to dead addresses and removed from circulation, while this number increased to 2.36 billion in the last month and a half. This is an approximate 61 percent decrease in combustion rate.
On the other hand, as the SHIB burn rate decreased, the price performance of the token also decreased. Based on this, the SHIB price has dropped 15.5 percent since the beginning of September. The incineration processes carried out during this period also did not seem to have any major impact on the SHIB price. As a result, the general appearance of SHIB burns changes from day to day. The number of tokens burned, 41,038 percent of which has been burned so far, equals 410.38 trillion tokens. The circulating supply of the Shiba Inu is 58.96 percent. This brings the total capitalization of the project, which has a current price of $0.0000103, to $ 5.68 billion.
