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Just $1 worth of SHIB was burned in the last 24 hours, according to the Shibburn page, highlighting the relatively small scale of the burn activity over the past day.
According to the Shibburn page, 192,678 SHIB was burned in the last 24 hours. This small amount follows the Shiba Inu burn page seeing a brief disruption, which interrupted visibility into the latest burn figures, making burn activity unavailable for users checking the tracker. This caused the total burn in the last 24 hours to briefly show $0.
Shortly afterward, the reported 24-hour burn total showed 192,335 SHIB burned, with burn activity now available. While the update suggests that burn activity is being reported again, the figure remains modest compared with larger burns that have occasionally attracted attention within the Shiba Inu ecosystem. Subsequently, the daily burn rate fell 14.22%.
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In the last seven days, a total of 176.35 million SHIB was burned, and a total of 709.44 million SHIB was burned in the last 30 days.
SHIB price
The crypto market largely traded in the red as liquidations rose 143% in the last 24 hours to $759 million. Heavy trading, shrinking open interest (OI) and forced closures might imply leverage is being flushed out, not added.
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At the time of writing, SHIB was down 3.64% in the last 24 hours to $0.00000522 following yesterday's price crash. SHIB price further fell to a low of $0.00000502 before slightly recovering.
Investors look ahead to key economic data releases this week, including the latest inflation print.
September's annual inflation rate, due out Wednesday, is expected to come in at 3.7%, according to consensus forecasts, up from August's 3.4% print. Consumer prices, which exclude food and energy, are expected to rise to 2.5% from 2.4% in August on an annualized basis.
The inflation data will be followed on Thursday by September's monthly producer price index and retail sales data.