š„š Shiba Inu Burn Rate Soars 40% on Christmas Day, Price Jumps 3.5%! š
- On Christmas Day, the Shiba Inu (SHIB) burn rate experienced a significant surge of 40% š„
- This substantial increase in burn rate was accompanied by a 3.5% price hike, indicating a positive correlation between the two š
š Burn Rate Explained:
- The burn rate refers to the number of SHIB tokens being permanently removed from circulation š„
- A higher burn rate can lead to reduced supply, potentially driving up demand and, in turn, the price of SHIB š
š ļø Christmas Day Burn Rate Surge:
- The 40% increase in burn rate on Christmas Day was a notable event, suggesting a concerted effort by the SHIB community to reduce the token's supply š„
- This surge in burn rate may have contributed to the 3.5% price increase, as reduced supply can lead to higher demand and prices š
š Price Movement:
- The 3.5% price hike on Christmas Day was a welcome gift for SHIB holders š
- The price movement suggests that the increased burn rate may have had a positive impact on the token's value š
š® Conclusion:
- The Shiba Inu burn rate surge on Christmas Day was a significant event, accompanied by a 3.5% price increase š„
- The correlation between burn rate and price suggests that reduced supply can drive up demand and prices, making SHIB an interesting token to watch in the future š
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