Posted 1/7/2024, 5:17:51 PM
SHIB Falls 11% Despite Rumors of 9B Token Burn That May Not Match With Current Slow Burn Rate
- Shiba Inu price has declined 11% since start of 2023 despite rumors of major token burn event
- Rumors suggest 9.25 trillion SHIB tokens could be burned in January, which could boost price
- But actual burn rate depends on network activity, which has declined recently to 5.69 million daily transactions
- Only 206.6 million SHIB burned in past week, far below rumored 9.25 trillion target
- SHIB has slipped out of top 15 cryptos by market cap, currently trading 89% below its all-time high