The data shared by the Shibburn data tracker is $SHIB The combustion index has remained at zero level for the second day in a row. The community continues to burn these meme coins, but so far the results have not been impressive.
Meanwhile, Shiba Inu, the second largest dog-themed cryptocurrency, is also trying to recover and has already managed to mitigate some of its recent losses.
$SHIB No burns left
According to the aforementioned data source website, for each day of the last 24 hours. $SHIB The burn rate has not changed by an inch and continues to remain at zero level. It has maintained this mark for two consecutive days. The only difference is that today, Friday, this zero is in the green zone.
Nevertheless, the burn itself is a little more than zero. In the past day, our community has made 45,106 transfers $SHIB Two transfers will transfer your coins to an unusable blockchain address.
The day before, $SHIB Combustion metrics were also showing zero, but in the red region.
As U.Today reported two days ago, the metric soared to 53,954% in less than a day, marking the highest five-digit increase so far this month. Despite this huge spike, fewer than 1 million meme coins were burned that day. $SHIB.
$SHIB try to recover the price
In the past day, Shiba Inu price increased by 2.53% and then decreased slightly. The price increase to $0.0000561 is $SHIB The stock fell nearly 7% the previous day.
The Shiba Inu follows the trajectory of the Bitcoin price and has a strong correlation with the price of the world’s pioneer cryptocurrency. Bitcoin has been on the rise this week, reaching an all-time high of $74,000 on Thursday. However, it has since reversed and is now back in the $70,455 area. BTC is reacting to news regarding geopolitical conflicts in the Middle East involving the United States.
Yesterday, Bitcoin skyrocketed after news broke in the media that it is likely to come to an end soon, but it has now fallen. However, unlike the stock market, it has not fallen significantly and remains above the psychologically important $70,000 level.
Bitcoin has been proven to be uncorrelated with the stock market, but the stock market rises and falls rapidly in response to waves of volatility.
