Shiba Inu Burn Subdues Amid Meme Coins Rally This Week, Here's Why

Shiba Inu (SHIB) meme coin’s burn rate increased mildly this week. The weekly stats of SHIB token burn have been gaining massive attention from the crypto community and SHIB enthusiasts.

As per recent Shibburn data, 307 million SHIB tokens were burnt in the last week, an increase of 15.18%. While the gain is not as impressive, the reason is the increased demand due to the rise in SHIB prices amid recent meme coin rally.

Meanwhile, SHIB burn rate showed a sharp plunge in the past 24 hours.

Shiba Inu Token Burn Stats In Past Week:

Despite a 91.89% decline in burn in the past 24 hours, Shiba Inu (SHIB) with 4,578,212 tokens burnt, the week looks promising for SHIB.

As per the recent SHIB burn trend, in the past seven days, approximately 307 million tokens were burnt, which is anticipated to be a positive sign for Shiba Inu. The community is sure that there will inevitably be more SHIB burn in the coming weeks as token transactions are expected to increase due to new projects and partnerships.

The short-term 24-hours effect is likely to have minimal or no impact on the burn rate. However, the statistics of the weekly rise in SHIB token is said to have an essential role for traders and SHIB enthusiasts.

SHIB Price Amid Meme Coin Rally

The Shiba Inu community anticipated a massive rally in SHIB price amid a meme coins rally witnessed this week. Pepe Coin and FLOKI skyrocketed nearly 30%. However, SHIB price recorded only a 10% upside move, which is also noteworthy for the community.

As of now, SHIB price is trading at $0.00000781, down nearly 2% in the past 24 hours. The 24-hour low and high are $0.00000761 and $0.00000792, respectively. Trading volume dipped 40% in the past 24 hours.

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