Shiba Inu (SHIB) Burn Rate Soars 26,000%

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Last Updated on May 17, 2023 by Bitfinsider

Today, Shiba Inu (SHIB) is experiencing a modest price decline relative to the overall market momentum. The exact price of meme coin is currently $0.000008797, a decrease of 0.87% over the previous 24 hours. According to CoinMarketCap data, the meme coin is still in the green over the past week, during which it recorded a marginal 0.40% increase.

With this exponential burn rate, more than three billion SHIB tokens have been sent to a defunct wallet, in addition to the losses recorded over the past few days. The Shiba Inu burn rate is an essential metric that demonstrates how much of the token is removed from circulation, thereby demonstrating the deflationary nature of the meme coin. Deflation is a major concern for investors, and there is a good chance that SHIB bulls will use this metric to make a massive bullish drive in the near future.

How to buy or trade SHIB on ProEX

You can buy or trade SHIB on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.

On ProEX, you can trade SHIB as a spot pair (SHIB/USDT) in 3 simple steps:

  1. Sign up and register an account on ProEX 
  2. Buy USDT via ProEX One-click Buy 
  3. Trade SHIB/USDT at ProEX Spot

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.