Shiba Inu, the second-largest meme coin, uses a token burn mechanism as a strategy to increase scarcity and enhance price stability. Despite efforts to reduce the total SHIB supply by burning trillions of tokens, no substantial price increase has been observed.
Recently, the burn rate fell to zero within a 24-hour period, leading to concerns about its effectiveness in influencing the Shiba Inu price. The unchanged token price despite the burn attempts raises questions about the long-term impact on SHIB's overall market performance.
