Shiba Inu Price Hits Yearly Low Amid Lack of Token Burns

Shiba Inu (SHIB) experienced a significant price drop to $0.0000056 during the recent Valentine's Day weekend, marking its lowest point this year. According to NS3.AI, the absence of token burns during this period has contributed to the decline, as the burn rate has remained consistently low over the past year. This lack of token scarcity is affecting demand and raising concerns among investors about SHIB's potential for upward price movement. With anticipated network activity on Shibarium still weak, questions are emerging about SHIB's ability to achieve milestones such as reaching $0.01 without substantial token burns.