Shiba Inu Burn Rate Collapses by 80%, Here's Who Can Save It

With the tumbling of the burn rate and depressing performance on the market, $SHIB future looks grim, but burning may save it

Shiba Inu's burning mechanism does not work in the same way as Ethereum's. Instead of automatically burning part of the transaction fee on the network, SHIB has three specific addresses that users voluntarily send funds to and remove tokens from circulation.Technically, no burning mechanism exists on the network; funds are simply sent on wallets that no one will ever be able to access.

However, it is enough to decelerate the inflation of the asset. Strong spikes in burning volume are fueled by individuals or firms that pledge to burn a certain amount of tokens. The lack of burning volume shows that firms are experiencing a drop in Shiba Inu revenue or have no spare tokens to burn.The only way to provide more burning volume is to fuel the revenue of companies that pledged to use the part of the Shiba Inu tokens they got from selling goods or services.

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