What's up, my lovely people! Get ready because I bring you the hot gossip from the crypto world that has us all with our mouths open. It turns out that our beloved Shiba Inu (SHIB), that little coin with a dog face that we love, is in a swing that’s more unpredictable than the catchiest bachata!
Imagine this: the SHIB community, which is more united than a stew in a pressure cooker, has stepped up and has been burning tokens as if there were no tomorrow. We’re talking about more than 1.3 billion SHIB going up in flames this week! 🔥 This means those tokens are sent to a "dead wallet," where they remain buried forever, goodbye very much! The idea is that by reducing the number of coins in circulation, scarcity will work its magic and the price will rise like foam.
Things got hotter when, suddenly, the daily burn rate shot up by over 4000%! And who was the star of this burning party? An anonymous crypto whale! 🐳 This person dropped a fortune, sending over 13 million SHIB to the fire in a single transaction. A move that deserves respect, just so you know! In total, more than 410 trillion SHIB have been burned. It’s an amount that blows your mind!
One would think that with so much burning and so much effort from the community, the price of SHIB would be rising more than gasoline on a Monday, right? Well, surprise, surprise! Despite all this burning, the price of SHIB, instead of going up, went down! It fell by 3.65%, and now it's hovering around $0.00001156. What a mess! 🤯
Experts, those who are always on top of the numbers, explain to us that while burning tokens helps reduce supply in the long term and create that desired scarcity, it's not a magic formula for the price to rise overnight. Especially with a coin that, although it’s on everyone’s lips, has a supply of tokens that seems infinite! So, even though the effort is immense and the community keeps pushing hard, the path for SHIB to make a significant value jump is a bit longer than we would like.
So, my people, keep a close eye on this story that is more exciting than a Telemundo novel. And stay alert, because in the crypto world, every day is a surprise!$SHIB
