Shiba Inu Price Drops Despite Increasing Burn Rate

The Shiba Inu (SHIB) token has continued its downward trend, reaching an all-time low of $0.0000080, down 76% from its peak in December last year. This decline comes despite a significant increase in the burn rate, exceeding 17,225% in just 24 hours, with over 32.4 million tokens being incinerated by a single investor’s contribution. While this surge may sound positive, experts point out that its impact on SHIB’s price is minimal compared to other factors at play.