Shiba Inu (SHIB) Rise in Burn Rate Drives Price Higher

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Burning activity increased significantly in the Shiba Inu ecosystem in the 24 hours leading up to Christmas. According to data from Shibburn.com, SHIB’s burn rate has increased by 41.87% compared to the previous period, which has alleviated the recent price decline to a certain extent and led to a short-term price rebound.

Combustion activity details and price implications

Burn data: In the past 24 hours, a total of 7,309,654 SHIB tokens were burned. Burn transaction sizes ranged from 6,387 SHIB to the largest single transaction of 4,326,195 SHIB. These tokens are permanently removed from circulation via burning addresses, thus reducing the supply.

Price Rebound: Driven by burning activity, SHIB price has gained 3.5% in the past 24 hours and is currently trading at $0.00002305. While SHIB is down around 10.71% over the past week, the price increase adds to its market performance around Christmas.

Looking Ahead: Can Combustion Continue to Drive Prices Higher?

While SHIB’s burning mechanism alone cannot guarantee continued price increases, its deflationary effect and correlation with ecosystem activity provide support for SHIB’s long-term bullish trend:

Short-term outlook: If burn rates continue to rise and market sentiment remains positive, SHIB price is likely to recover steadily on weekly and monthly time frames.

Mid- to long-term perspective: With Shibarium and other ecological projects fully launched, the burn rate and network activity are expected to further increase, which may provide a more solid support for the price of SHIB.

Nod your head to live and watch the live broadcast to catch the bull market!