🚨🚨🚨SHIBA INU NEWS 🚨🚨🚨
Burn Rate Soars 500% for Shiba Inu (SHIB), Increasing Market Optimism
Shiba Inu (SHIB) Sees Hope Despite Counterfactual Information
Shiba Inu (SHIB) recently traded in the red, showing a delayed favorable price response to the increased burn activity, despite a noticeable increase in its burn rate.
There was a notable decrease in the token's supply—9.83 million of them were burnt, mostly from two addresses. It is anticipated that this significant reduction in the amount in circulation will strengthen SHIB's tokenomics and possibly pave the way for a short-term price increase.
The substantial drop in SHIB supply as a result of the spike in burn rate has increased market optimism. The goal of token burning is to decrease the total amount in circulation, which can raise the value of a token if demand rises or stays constant.
