SHIB’s burn mechanism destroyed the equivalent of $1 worth of tokens in the last hour, sending them to an address where they are permanently inaccessible. Over the past 24 hours, 4.71 million SHIB worth $22 were burned, compared to 94.67 million over the past seven days. SHIB’s price stands at $0.00000466, up 1.21% over the day, with traders watching for the token’s next directional move. Across the broader crypto market, investors are focusing on upcoming US economic data releases, particularly July inflation figures, which could influence expectations regarding Federal Reserve decisions.
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