The *Shiba Inu (SHIB)* community is at it again! ๐๐ฅ Theyโve ramped up their *burning efforts* to reduce the supply and hopefully drive up the value of SHIB. But hereโs the twist โ despite the *massive burn*, SHIBโs price has *dropped by over 3%* since Sunday. ๐ค So, whatโs really going on? Letโs break it down! ๐
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*๐ฅ SHIB Burn Rate Shoots Up by 1,190%!*
In the last 24 hours, the *SHIB community* has burned an *impressive 44,011,839 SHIB* tokens. Thatโs a ton of tokens made permanently unspendable! ๐ฅ๐ฅ Hereโs how it went down:
- ๐น *Biggest burns*: Two anonymous *whales* sent *20.8M SHIB* and *20.4M SHIB* to burn addresses.
- ๐น *Weekly burn stats*: A total of *82.93M SHIB* have been burned in the past *seven days*.
- ๐น *Burn rate increase*: The *burn rate* is up by *32.13%* compared to last week. ๐ฅ๐ฅ
Thatโs a huge increase, right? It looks like the *SHIB army* is serious about cutting down the supply to *potentially boost price*. ๐ฐ
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*๐ Whatโs Next for SHIB?*
So, with all these tokens burned, is *SHIBโs price* finally going to bounce back? ๐ค Or is the market just *not responding* to the burn efforts right now?
The reality is โ *burning tokens reduces supply*, but it doesnโt *automatically guarantee price increases*. ๐ *Market sentiment* and *overall trends* play a much bigger role in determining price.
While the *burn rate* is impressive, the *market conditions* are a big factor. Right now, the *overall market* is facing some dips, and *SHIB* is no exception. ๐พ
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*Key Takeaways:*
- ๐ฅ *Burn rate skyrocketing* with millions of SHIB burned, especially by whales.
- ๐ Despite burns, SHIBโs *price is down* 3% since Sunday.
- ๐ก The market is still unpredictable, and burning alone doesnโt guarantee a price surge.
Will *SHIB* continue to burn through the supply and *make a comeback*? Only time will tell, but for now, *the SHIB community is pushing hard* to reduce that supply and hope for the best! ๐
Stay tuned, and always keep an eye on the market! ๐๐น
#SHIB #ShibaInu #SHIBCommunity #TokenBurning #priceprediction