Shiba Inu (SHIB) has seen an impressive increase in its daily SHIB burn rate, which has skyrocketed by 243%. Despite this significant increase, the price of SHIB has remained relatively stagnant, barely moving and remaining in a tight range for the past two days.
Shiba Inu (SHIB) has seen an impressive increase in its daily SHIB burn rate, skyrocketing by 243%. Despite this significant increase, the price of SHIB has remained relatively stagnant, barely moving and remaining in a tight range for the past two days.
According Shibburn X Mango20,198,590 SHIB were burned in the last 24 hours, representing a 243.67% increase in the burning rate.
Despite the substantial increase in the burn rate, the SHIB price has shown minimal movement. Over the past two days, the price has remained stable, fluctuating in a narrow range between $0.0000166 and $0.0000172.
Several factors, including market sentiment, could contribute to the decline in SHIB price despite the increase in the burn rate. Prices of individual tokens can be influenced by general sentiment in the cryptocurrency market, which can be positive, negative or neutral. The lack of price movement could suggest that other market forces are at play, overshadowing the impact of the burn rate.
Tomiwabold OlajideThe Bitcoin-led crypto market saw lackluster price action over the weekend, with the proportion of Bitcoin traded falling to an all-time low of 16% this year. The lackluster action has extended to Shiba Inu, as evidenced by its price.
Team Shiba Inu on SHIB, BONE, LEASH, SHEB: “We won’t stop”
Shiba Inu Team Member Lucy has sent an invigorating message to the SHIB community: “We will not stop at SHIB, BONE, LEASH, SHEB.”
As the market faces a period of uncertainty reflected in falling prices, Lucie reiterates the Shiba Inu team’s commitment to the growth and development of the project. Her focus encompasses the ecosystem’s key tokens: SHIB, BONE, LEASH and the newly introduced SHEB.
Tomiwabold OlajideAs the Shiba Inu community continues to support SHIB, BONE, LEASH, and SHEB, the market is watching with bated breath to see how these tokens evolve in the coming days.
At the time of writing, SHIB was down 0.27% over the past 24 hours to $0.00001699.
