The SHIB meme coin has seen a significant decrease in circulating supply due to burns, despite a decline in its price. The SHIB army burned 27,108,433 SHIB, resulting in a 6,750% increase in the burn rate. Weekly burns were also substantial, with a decline of 81.73% compared to the previous week. Transaction activity has surged, with a 1,228% increase in daily transaction count. The SHIB price has experienced a bearish trend, losing 7.31% during the week. Dogecoin (DOGE) has also seen a decline, and there are concerns about an upcoming US election impacting the market.



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