Shiba Inu (SHIB) has recently experienced a dramatic decline in its burn rate. This plunge, amounting to a staggering 90.57%, comes at a time when the SHIB token is facing a sharp drop in its market price.
Typically, lower token prices present more extensive opportunities for token burning as it becomes more affordable to acquire additional SHIB tokens for the purpose of destroying them. However, it appears that the prevailing negative sentiment in the market is dampening the burn attempts.
At the time of writing, the SHIB token is trading at $0.00000692 according to CoinGecko, marking a 1.9% decline over the past 24 hours. On a more optimistic note, the token has seen a 1.2% increase in the past seven days. It’s evident that SHIB is experiencing some turbulence in its value.
Shiba Inu: Path To Revival
Yet, Shiba Inu’s burning program is making waves by bucking the trend. In a surprising turn of events, the token’s burn rate surged by over 200%, leading to the elimination of 5
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