$SHIB $XRP $DOGE Shiba Inu (SHIB) Sees 60% Monthly Drop in Burn Rate: Reason to Worry?

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The Shiba Inu team burned millions of tokens last month. The mechanism aims to reduce supply and potentially boost prices if demand stays strong.

SHIB’s price dropped by 4% daily amid a market slump. However, improvements in the Shibarium network could lead to a future rally.

The Burning Last Month

The team behind the popular meme coin Shiba Inu continues to send tokens to a null address as part of its burning program. Data shows the destroyed tokens reached almost 380 million last month after 178 total transactions.