Shiba Inu Token Burns Dropping But SHIB Price Rallies 🐕
Shiba Inu (SHIB) token burns have decreased significantly, with the community burning 95,442,500 tokens, reflecting a 70.48% decline from the prior period. Despite this decrease in burn rates, SHIB's price is showing some signs of recovery amid challenging market conditions for meme-based tokens.
The decrease in burn rates is notable as token burns are a mechanism used to reduce the available supply of a cryptocurrency, potentially leading to price increases. However, the SHIB market's current rally indicates other factors influencing its price movement.
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