Shiba Inu's burn rate has dropped by 50% in the past 24 hours, but analysts remain bullish, predicting a 300% surge by May if key technical patterns hold.

Shiba Inu (SHIB) has witnessed a massive drop in its burn rate in the past 24 hours while the price of the cryptocurrency also crashed.

Shiba Inu’s [SHIB] burn rate has skyrocketed 3829.51% in the past week, fueling speculation of a potential supply-driven price surge. At press time, SHIB was trading at $0.00001529, gaining 5.88% in the last 24 hours, showing renewed bullish momentum. The meme coin’s market cap has climbed past $9.18 billion, reinforcing its dominance in the space.

Shiba Inu’s burn rate dropped 91% in the last 24 hours, with only 2.6 million SHIB removed from circulation. This follows Shytoshi Kusama stepping down as lead visionary.

Shiba Inu's burn rate increased by 567.83% as 4.61 million tokens were permanently removed from circulation, coinciding with a 24% price surge and a major whale purchase of $444,000 worth of SHIB tokens.

About a billion Shiba Inu (CRYPTO: SHIB) tokens were removed from circulation on Thursday, applying further deflationary pressure on the popular dog-themed cryptocurrency.

Another key metric showing the impact of Shibarium is Shiba Inu’s burn rate, which has witnessed a 786.90% increase in the last 24 hours until press time.

Shiba Inu (SHIB) has seen a sharp decline, plunging 20% in the last 24 hours to trade at $0.000014. The meme coin’s weekly drop now stands at 25%, raising concerns over its price stability. A cryptic video released by lead developer Shytoshi Kusama has sparked speculation within the SHIB community,