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Shiba Inu Burn Suffers 30% Crash, Will SHIB Price Follow This Bearish Trend?

  • The burn rate of Shiba Inu tokens has experienced a 30% decline in the past 24 hours, raising concerns about the overall activity and its impact on the price of Shiba Inu (SHIB).
  • The decrease in burn activity is evident in both the total number of burn transactions and the smaller amounts of SHIB tokens being sent for burning.
  • The decline in burn rate has led to a relatively stagnant price for SHIB, currently trading within a narrow range.
  • Although the decrease in burn activity may be concerning, a potential resurgence in the broader crypto market could impact the price of SHIB in a positive manner.

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