Shiba Inu Network Activity Slows Down: Is Burn Rate Recovery Enough?

Shiba Inu [SHIB] has been on a wild ride recently. While the Shiba Inu network has been experiencing notable updates on its development front, concerns are mounting about slowing network activity and its impact on the coin's burn rate. Analysts are worried about the diminishing use of the Shiba Inu Coin (SHIB) network and the token’s burn rate dropping significantly, which makes the future of the coin less assured.

SHIB Burn Rate Volatility: A Rollercoaster Ride

The SHIB burn rate has been far from stable. Initially, the SHIB burn rate collapsed, causing its value to plummet. The cause of this collapse was tied to issues within the Shibarium network. More recently, the Shiba Inu burn rate crashed 72% over the last 24 hours fueling market concerns. In fact, the Shiba Inu burn rate faces new challenges, as it has recorded a massive 82% decrease. SHIB burn rate drops to 62M in a week, indicating a shift in investor sentiment.

Burn Rate Recovery: A Glimmer of Hope?

Even Following a rather negative week, the burn rate of Shiba Inu was seen recovering. Over the last 24 hours, a total of 5,312,892 SHIB has been sent to dead wallets. This decline comes amid a period of recovery and positive momentum for the burn rate. But is this recovery enough to offset the impact of the slowing network activity?

Price Action Amidst Uncertainty

SHIB price plunged about 2% from yesterday amid a broader market selloff. Despite a slower burn rate and broader market, SHIB’s price rises 4.25%. The mixed signals leave investors wondering about the future price trajectory of Shiba Inu.

The Big Question: Can the Burn Rate Outpace Network Slowdown?

The key question remains: can the burn rate's sporadic recoveries truly counteract the effects of dwindling Shiba Inu network activity? The answer will determine the long-term viability and value of the Shiba Inu coin.