SHIBA INU (SHIB) BURN RATE FALLS TO LOWEST LEVEL IN WEEKS

Shiba Inu's burn rate has taken a hit, dropping to its lowest level in weeks. This decline is quite significant, considering the burn rate had spiked by 972% just a few days ago, with 5,441,220 SHIB being burned in a single day.

The SHIB burn rate is crucial because it reduces the token's circulating supply, potentially boosting its long-term value. Despite the recent drop, nearly half of the initial quadrillion supply has been burned, with 410,742,899,523,458 SHIB removed from circulation.

It's worth noting that SHIB's price has been consolidating around $0.000022, with a strong support level at this price point due to 23,170 addresses accumulating SHIB in this range.

If the price continues to decline, this support level might be activated, potentially stabilizing the asset and paving the way for a recovery.$SHIB