SHIB Burn Rate Stagnates, But Significant Tokens Still Destroyed 🐶
Data from Shibburn shows a stagnation in SHIB's burn rate, despite over 1.4 million tokens being sent to dead wallets, rendering them unspendable. This event coincides with a strong 7% rise in SHIB’s market value.
The burn rate hitting zero while tokens are still being destroyed is considered unusual, especially given the concurrent price increase.
This indicates that market dynamics for SHIB might be influenced by factors other than just the token burn rate.
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