The Shibburn meme coin wallet tracker has reported a substantial decrease in the Shiba Inu (SHIB) burn rate, dropping by 74.61% with only 1,144,911 SHIB transferred to unspendable blockchain wallets. This decline in burns, driven by the SHIB community, including retail investors and entrepreneurs, may raise concerns about the meme coin's future.

However, the SHIB community remains active, with a total of 410,727,769,591,999 SHIB burned to date, mostly destroyed in a single transfer by Ethereum co-founder Vitalik Buterin in 2021. Buterin's decision to burn his SHIB coins, received from Shiba Inu's founder Ryoshi, showcased his skepticism towards the meme coin's potential.

Despite the decline in burns, SHIB has experienced a notable price increase of 5.42% over the past 24 hours, rising from $0.00001596 to $0.00001682. This surge follows an 8% decline on Thursday and was influenced by Bitcoin's 5.26% rise, which saw it recover to the $67,380 zone.

The SHIB community received positive news with the announcement of a major Web3 upgrade for the Shiba Eternity game, allowing players to participate in tournaments. This upgrade has generated excitement among SHIB supporters, highlighting the community's continued enthusiasm for the meme coin.

With 583,385,250,186,054 SHIB coins remaining in circulation, the community's actions will be crucial in determining the meme coin's future. While the decline in burns may raise concerns, the community's active engagement and positive developments, such as the Web3 upgrade, demonstrate their commitment to SHIB's success.