Shiba Inu's Meteoric Rise: Can It Outpace Dogecoin and Hit New Highs?
TL;DR Summary
Shiba Inu's burn rate surged by 7418% in a week, burning over 2 billion SHIB tokens, highlighting its deflationary potential. This increase could positively impact SHIB's price by reducing supply and creating scarcity. Despite a slight decline in burn rate and a recent 3% price drop, SHIB's overall sentiment remains bullish, with potential for price recovery if the trend reverses. However, increased selling pressure and profit-taking could continue to affect its price trajectory.
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