The End Of An Era? Shiba Inu Burns Slow To A Crawl As Investors Lose Interest

The Shiba Inu burn initiative has existed for a number of years now, a move that was created to help reduce the massive supply of the meme coin. Initially, this initiative drew a lot of attention, with investors burning thousands of dollars worth of SHIB daily and removing billions in SHIB from the circulating supply. However, as the market has moved into another bear market, Shiba Inu has suffered, and the burn initiative has slowed to almost a stop.

Shiba Inu Burns Drop To Only Hundreds Of Dollars

As shown on the Shibburn website, which is the official tracker for the amount of SHIB tokens burned daily, the SHIB burn rate has dropped drastically. The website shows that over the last week, around an average of $10 worth of tokens have been burned daily, meaning only a tiny amount of tokens are being taken out of circulation.

The seven-day figures