Shiba Inu Burn Rate Jumps 1000%: Here’s Why!

shiba inu Although the (SHIB) burning rate did not reach a certain rhythm in January, it has been active in the last 48 hours. shibburn to the data The burn rate increased by 1004% in the last 24 hours and was recorded as 111,223,906 SHIB. This increase in the burning rate is an indication that the mobility in the community has increased again.

It is possible to say that the burning rate in the Shiba Inu network has a direct connection with the activities in the network. Therefore, a high burn rate equates to high activity. Burning SHIBs helps increase the value of the token by removing it from the circulating supply.

Shiba Inu burn As we have reported, although 100 million incineration is seen as insufficient by the community from time to time, regular incineration at such rates is very productive for the ecosystem. While the burns will help remove the pressure in the short run, they will help increase the value of the token in the long run.

The performance of the Shiba Inu price remained low regardless of this rate. SHIB struggled to break the quarterly trendline resistance. The reversal of the trend increased the activity in the network and skyrocketed the burn rate. This situation emerged as a result of the investors who did not want to make a loss in the general framework, closing their positions.

However, the Shiba Inu did not have to struggle much with leveraged trading and did not drop in price too drastically.

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