Shiba Inu Fires Up With 4,000% Burn – Price Rebound Coming?

Shiba Inu Fires Up With 4,000% Burn – Price Rebound Coming?


Shiba Inu (SHIB), the popular dog-themed meme coin, is experiencing conflicting signals amidst the recent crypto market slump. While the burn rate, a metric indicating the rate at which tokens are permanently removed from circulation, skyrocketed by over 4,000% in the past 24 hours, the token’s price continues to decline.

This surge in burning activity, primarily attributed to the destruction of over 154 million SHIB tokens, has ignited a spark of optimism within the SHIB community. The burning process aims to reduce the overall supply of SHIB, potentially leading to scarcity and a subsequent price increase. Additionally, the community burning large amounts of tokens signifies their confidence in the project’s future.

In the past 24 hours, there have been a total of

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