Shiba Inu Token Sees Massive Burn Spike, Minor Price Impact
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Shiba Inu (SHIB) experienced a notable increase in its token burn on August 11, 2023. Despite this significant burn, the price impact of SHIB was limited, and the token continued to maintain a bearish trend.
According to reports, the spike in token burns usually aims to reduce the overall supply, theoretically increasing the token's value. However, the limited price impact suggests that other market factors may be influencing SHIB's price.
This event has caught the attention of investors and market analysts, who are closely monitoring SHIB to see if future burns might lead to a more substantial price impact.
Source: en.coinotag.com ↗
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