The Daily Shiba Inu burn rate fell by nearly 82% to begin December 2022. There’s no clear reason why the trend is faltering, but it was dwindling. At least, until Saturday. The weekend started strong for the DogeCoin killer. The SHIB burn saw an increase of nearly 1000% December 10th, as holidays near.
SHIB Burn Last 4 Days
Over the last 3 days, the burning of the Shiba Inu token has been less than 11-million tokens total.
On December 7th, the daily rate fell by nearly 82%. The staggering collapse of effort created a stir on a brand loyalists subreddit. Some believed the once faithful ‘SHIB Army’ had given up on the token.
Reddit user DVoiceOfReason responded to news of the crash writing, “And no one is going to invest in this coin like they did in 2021. It’s over.”
Perhaps the towel was thrown in too early for users however. Just 3 days later, it appears the SHIB burn rate is set to leap over 1000%.
Nearly 12.3-Million tokens have been burned midway into the day. The massive total was an 815% increase in comparison to the last 24 hours.
And there’s still nearly half a day left. What sparked the increase can only be speculated.
Christmas 2022 Effects
However, as suggested before, the sharp decline could just be from the world’s focusing on 2022 Christmas celebrations and shopping. Shiba Inu is not just for Americans as some on-line fanatics may assume and fret.
Some may not understand the international beliefs related to leaving all commercial and material goods to the side for a few days, but it does happen.
In Colombia for instance, on December 7th the country celebrates the eve of Immaculate Conception. The majority of the country stops everything to spend time with family and friends, and light a candle outside their house in observance of the holiday. And nearly no one works.
update — 11:18PM
The SHIB Burn continues to increase today. It is now at 908.12% with an additional 1-million coins burned since the original report. A total of 13,491,970 tokens have been burn thus far Saturday. The burn for Saturday will likeley end at this total.
