🔥 SHIB Burn Surge Increases by 4100%, but Price Plummets by 11%! Whale Activity Hints at Future Trends? 🚀

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In the past 24 hours, the burn rate of Shiba Inu (SHIB) has astonishingly surged by 4100%, with a total of 21,709,094 SHIB tokens burned, further reducing its circulating supply. This change has sparked an active response from the community, but despite the accelerated burn rate, the price of SHIB has significantly dropped by nearly 11% within the same time frame.

Burning and Market Reaction

Although the amount of SHIB burned has reached record levels, with one large-scale burn accounting for 21,088,148 SHIB, overall market sentiment remains bleak. Due to macroeconomic factors and a market liquidation amount of up to $711 million, the price of SHIB has fallen to $0.00002168 amidst the overall sell-off sentiment in the cryptocurrency market.

Surge in Whale Activity

Accompanying the price drop is a 2004% surge in large transaction volumes for SHIB. According to IntoTheBlock data, the number of large transactions (transactions over $100,000) in the past 24 hours reached $751.22 million, indicating that whales are reallocating or increasing their holdings. Such whale activity typically signals that they are strategically positioning themselves for potential future market trends.

Outlook

Despite the current sluggish market, the burn actions of Shiba Inu and whale activities provide positive signals for a potential rebound in the future. Investors will continue to monitor the critical date of January 14, hoping to see if SHIB can experience a new round of increases during the market recovery.

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