#TrumpTariffs The Shiba Inu burn rate reaches 11.181%, is a rally on the horizon?.
$SHIB ✨💥✨💥✨💥
#DayTradingStrategy In the last 24 hours, the Shiba Inu burn rate has reached 11.181%, generating optimism among token enthusiasts. For months, the dog coin has been experiencing a situation of neglect from investors. But this increase in burning hints at a better trading volume position.
A higher burn means that the trading level is significant within the network of this memecoin. This generates greater demand for the token, which would eventually affect its price upwards. Is it possible that the current increase in burning could trigger a rally in the price of SHIB?
Token burning is a process in which a certain amount of the coin is permanently removed from circulation. This has a bullish component, as it stimulates scarcity. In the case of SHIB, the enormous supply makes increases in the burn level practically imperceptible in the short term.
However, the increase in trading activity could indeed have bullish effects on the price, but with moderate intensity. In fact, that is probably what is happening currently. According to data from CoinMarketCap, the coin experiences a +2.30% performance in 24 hours, while the weekly chart reflects a +0.52%.