SHIB Burn Rate Surges Over 360% Amid Price Decline Following Bitcoin Movement

Key Points

1. SHIB burn rate increased by 367.83% in seven days, driven by a whale burning 600 million tokens.

2. SHIB price fell 11.11%, mirroring Bitcoin’s 2% decline after a major BTC purchase announcement.

3. Strategy’s acquisition of 21,021 BTC valued at $2.46 billion highlights institutional confidence despite market dips.

4. SHIB burns reduce token supply, potentially increasing scarcity and long-term value.

5. SHIB’s price typically follows Bitcoin’s trends, as seen in the recent 11.11% drop following Bitcoin’s 2% slide.