CandleFocus 5.72 Trillion SHIB in 24 Hours, Yet Shiba Inu Price Skyrockets 8%
2024-11-16
Author: Content Editor
Shiba Inu (SHIB) has seen a decline in whale activity, with a 70.55% drop in large transactions. Despite this, the price of SHIB has increased by 8% and retains 30% of its gains from the past week. This suggests that smaller investors are stepping in and driving the price upward, indicating strong underlying demand and positive sentiment. Recent developments in the Shiba Inu ecosystem, such as new partnerships and technical updates, have caught the market's attention. Additionally, the burn rate of SHIB has surged by 114% in the past 24 hours, with a total of 616,094,437 SHIB tokens burned in the last seven days. Burning tokens removes them from circulation and can potentially enhance the value of the cryptocurrency.
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