As reported by Bijié Wǎng, Shiba Inu (SHIB) experienced a 505.74% surge in token burn volume on Christmas Day, with a total of 5.98 million SHIB tokens burned. Despite the sharp increase, the price remained stable around $0.00000719, as the event did not significantly impact the overall supply. Analysts note that sustained high burn rates would be required to influence market trends.
Shiba Inu (SHIB) Token Burn Volume Surges 505.74% on Christmas Day
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Summary
Shiba Inu (SHIB) saw a 505.74% jump in token burn volume on Christmas Day, with 5.98 million tokens burned. Transaction volume spiked alongside the burn activity, though trading volume remained steady. SHIB’s price held near $0.00000719, as the burn had little effect on total supply. Analysts say consistent high burn rates would be needed to shift market trends.
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