The rate at which Shiba Inu tokens are being burned has remained steady in the past day, with a significant decrease in both the amount of tokens burned and the number of burn transactions. The decrease in the burn rate may suggest that SHIB users are less engaged in reducing the meme coin’s supply compared to before. The rate at which Shiba Inu is burned remains unchanged. Interest in burning Shiba Inu tokens was very high at the start of the year, resulting in a significant number of tokens being burned to reduce its supply. The Shiba Inu team participated in the initiative by using fees generated from Shibarium, a network built on top of Ethereum Layer 2, to conduct burns. However, as the market improved, the desire to burn SHIB tokens decreased. This is apparent in the decrease in the number of burn transactions observed in the past few weeks, as they are significantly lower compared to the figures seen in late last year and earlier this year. For instance, within the past day, Shibburn, a website that tracks burn transactions, has only recorded two burn transactions. These transactions involved a total of 2 million SHIB coins being burned, which equates to around $19 based on the current token value. This amount of SHIB tokens burned matches the number burned the day before, resulting in a 1.93% decrease over the past two days. The meme coin’s performance on the weekly chart, as indicated by the burn tracker, is also poor.