CandleFocus Shiba Inu Torches Over 15 Million SHIB as Price Crashes Further
2025-02-07
Author: Content Editor
The amount of Shiba Inu (SHIB) tokens in circulation has decreased due to a recent token burn event, with over 15 million SHIB tokens being destroyed. This has led to a significant increase in the burn rate, which has risen by over 470% in the past 24 hours. The tokens were burned by the community and sent to dead wallets, locking them up permanently. Despite the burn, SHIB's price has declined by 6.4% and is still trading below important levels. There has also been increased SHIB whale activity, with a significant amount of tokens being withdrawn from the Kraken exchange. However, the trading volume for SHIB has increased by 22.05%, indicating optimism in the market.
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