Shiba Inu Community Burns Over 1.3 Billion SHIB, Yet Price Remains Flat
Main Idea
The Shiba Inu community burned over 1.3 billion SHIB tokens to reduce supply, but the price remained unaffected, highlighting other factors like market sentiment and ecosystem development as crucial for price appreciation.
Key Points
1. Over 1.3 billion SHIB tokens were burned by the community in the past week to reduce the token's supply.
2. Despite the significant burn, SHIB's price remained flat, indicating limited immediate impact on valuation.
3. Experts note that token burns alone are insufficient for price appreciation; market sentiment, ecosystem adoption, and real-world utility are equally important.
4. The Shibarium layer-2 solution is seen as a foundational development for Shiba Inu's long-term growth.
Description
The Shiba Inu (SHIB) community has showcased its unwavering commitment to reducing the token’s vast supply, with over 1.3 billion SHIB tokens incinerated in the past week alone. This substantial burning effort, at times seeing daily burn rates soar by thousands of percent due to significant individual transactions, aims to create scarcity and, theoretically, drive … Continue reading "Shiba Inu Community Burns Over 1.3 Billion SHIB, Yet Price Remains Flat" The post Shiba Inu Community Burns Over ...
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