SHIB Down -96.68%, But Here’s Silver Lining
Main Idea
Despite a 96.68% collapse in SHIB's burn rate, the SHIB community has managed to burn a significant amount of tokens, and the SHIB price has surged by 9% following Bitcoin's recovery.
Key Points
1. The daily SHIB burn rate collapsed by 92.10% in 24 hours, with the metric sitting at minus 96.68% over the past 7 days.
2. The SHIB community still burned 20,923,735 SHIB despite the massive decline in the burn rate.
3. The SHIB price surged by 9%, rising from $0.00001285 to $0.00001401, driven by Bitcoin's recovery above $117,000.
4. Bitcoin's recovery was influenced by a U.S. executive order allowing 401(k) funds to invest in cryptocurrencies, including Bitcoin.
Description
Major SHIB metric collapses, but here's what's still good about this
$SHIB
$0.000013963
+5.22%
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