The size of Shiba Inu (SHIB) in red, where the daily burning rate is due to its lowest level
The team behind the famous encrypted currency bearing the title of dogs, Shiba Eno, slowed its decisive efforts to remove large quantities of distinctive symbols to constantly jam.
The data from the chain tracking platform, Shibburn, shows that only 320,814 SHIB code has been destroyed today.
Ship burning rate of only 32 %
While the SHIB investors remained optimistic about the capabilities of the distinctive symbol in the short term, the large burns that witnessed during the past day raised concerns in the market.
With the high daily combustion rate of SHIB by only 32 %, the distinctive symbol only witnessed 320,814 SHIB symbols that were sent to dead or unacceptable portfolios. This represents a significant decrease in the activity of burning a gray society, as the distinctive symbol is famous for burning millions of symbols per day, sometimes billions.
The symbol barely seen this low symbolic burning in recent days.
Although the reason behind the low Shib burning activity remains uncertain, there are speculation that the Shib investors may have their demand for the distinctive symbol, leaving the team without any reason to increase the scarcity.
Moreover, the low combustion rate can also be tracked to several other factors such as suspicion of the broader market and the increasing desire among its owners to prepare to increase potential prices by hunting instead of combustion.
SHIB decrease with price stability
However, the SHIB price of bad burning activity has responded with stable price movements despite the wide market gathering today.
According to the latest data from CoinMarketcap, SHIB showed flexibility in price movement today, as it recorded a decent increase of 0.25 % in the last day. As such, the distinctive symbol is traded at $ 0.001264 as of the time of the press.
While the slow SHIB burning activity indicates poor market performance, the distinctive symbol has witnessed the total trading volume in the red region, with a decrease of 4.02 % over the past 24 hours.
This indicates that SHIB young and old traders were relatively sleeping during the last day, indicating a decrease in the demand for the SHIB code with increasing suspicion of the market after frequent prices.
There are also opportunities in the ups of SHIB, as the broader encryption market has returned to the Green Zone since the past two days. Consequently, the expectations of the rise in Altcoins have sparked a wonderful watch for a gray hair among optimistic investors.
