SHIB Burn Rate Surges 286% Amid Price Recovery After 5% Decline
Main Idea
Shiba Inu's burn rate surged by 286%, but the actual amount burned remains low, while SHIB's price shows signs of recovery after a recent decline.
Key Points
1. SHIB's burn rate increased by 286% in one day, but only 269,722 SHIB were burned, worth $3.28.
2. Weekly burns total 13,772,405 SHIB, but the weekly burn rate is down 97.82%.
3. SHIB's price recovered by 2.32% after a 5% decline, currently trading at $0.00001213.
4. The burn rate reduces SHIB's circulating supply, potentially increasing its value over time.
5. SHIB's price decline was influenced by broader market trends, particularly Bitcoin's fluctuations.
Description
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