Shiba Inu September Burn Rate Starts Slow Amid Market Selloff

Shiba Inu's September burn rate got off to a slow start this month, according to data from Shibburn. On September 1st, only 3.59 million SHIB tokens were burned in the last 24 hours, which translates to $18 in monetary value.

This marks a significant drop of 49.90% in daily burn rate compared to previous months. However, it's worth noting that this slow start may be attributed to the broader market conditions, with most crypto assets trading in the red.

In the last seven days, a total of 51.02 million SHIB tokens were burned, representing a 119% increase in weekly burn rate. Over the past 30 days, a total of 417.02 million SHIB have been destroyed.

At the time of writing, Shiba Inu's supply has decreased by 41.08%, with over 410 billion tokens out of its initial 1 quadrillion supply being burned in 21,714 transactions.