🔥 Shiba Inu's Burn Portal Ignites Hope, But SHIB Price Struggles to Soar
🌐 Shiba Inu (SHIB) recently unleashed its Burn Portal, a groundbreaking move to trim token supply and boost value. Yet, despite the community's fiery participation, SHIB's price chart still paints a downward trajectory.
🚀 The portal's launch saw an impressive 3.2 million SHIB tokens go up in smoke within 24 hours. But it's not just SHIB feeling the heat – the demand for BONE tokens is expected to rise as they fuel the burn.
💰 With over 589 trillion SHIB tokens circulating and a market cap of $7.8 billion, the burn portal aims to strategically manage supply and enhance SHIB's worth while giving BONE a bone-afide utility boost.
🔥 Over 410.7 trillion SHIB tokens have already met their fiery fate, contributing to a leaner circulating supply. The burn rate has even accelerated by nearly 44% in the past day alone, signaling an ongoing battle against inflation.
💓 Despite these efforts, SHIB's price trend remains on a leash, with only a slight uptick of 0.45%. The bearish mood persists, as indicated by the Relative Strength Index (RSI) keeping below neutral territory.
☀️ In this game of burns and bears, Shiba Inu's latest move shows promise for the future, but for now, the memecoin must weather the storm and wait for brighter days ahead.
