đ„ Shiba Inu's Burn Portal Ignites Hope, But SHIB Price Struggles to Soar
đ 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.
đ 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 â the demand for BONE tokens is expected to rise as they fuel the burn.
đ° 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.
đ„ 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.
đ 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.
âïž 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.