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Shiba Inu

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 <h2 id="strong-analyzing-the-last-24-hour-burn-strong"><strong>Analyzing the last 24-hour Burn</strong></h2> 
 <p><span style="font-weight: 400">Within the past 24 hours, Shiburn </span><span style="font-weight: 400">revealed</span><span style="font-weight: 400"> that a total of 62,987,547 <a rel="noopener noreferrer nofollow" title="SHIB" href="https://thebittimes.com/tag/shib.html">SHIB</a> tokens had been transferred to “inferno” wallets, where they are now locked forever. The largest burn transaction carried 34,547,609 <a rel="noopener noreferrer nofollow" title="SHIB" href="https://thebittimes.com/tag/shib.html">SHIB</a> to a dead wallet approximately 6 hours ago.</span></p>  
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 <p><span style="font-weight: 400">The burn rate represents the rate at which tokens are intentionally taken out of circulation, enhancing the scarcity and potential value of the remaining tokens. <a rel="noopener noreferrer nofollow" title="SHIB" href="https://thebittimes.com/tag/shib.html">SHIB</a>’s burn rate has notably stayed above the zero level, a sign of proactive token management by the project’s developers.</span></p> 
 <p><span style="font-weight: 400">For Shiba Inu, a burn rate of 100% over 24 hours is a remarkable feat. This bold move by the Shiba Inu project could have a range of effects on the token’s ecosystem and its broader market presence.</span></p> 
 <p><span style="font-weight: 400">As tokens are deliberately removed from circulation, SHIB’s overall supply decreases, potentially influencing investor sentiment and demand. A rising burn rate often signifies a project’s dedication to long-term viability and can foster a sense of trust among token holders.</span></p>  
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 <h2 id="strong-price-reaction-and-market-sentiment-strong"><strong>Price Reaction and Market Sentiment</strong></h2>  
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 <p><span style="font-weight: 400">Any significant change in a cryptocurrency’s fundamental metrics is bound to have repercussions on its price, as traders and investors rush to interpret and respond to the new information. In the case of <a rel="noopener noreferrer nofollow" title="SHIB" href="https://thebittimes.com/tag/shib.html">SHIB</a>, the 100% increase in the burn rate did not go unnoticed.</span></p> 
 <p><span style="font-weight: 400">Following the announcement of the increased burn rate, the price of <a rel="noopener noreferrer nofollow" title="SHIB" href="https://thebittimes.com/tag/shib.html">SHIB</a> exhibited notable volatility. Initial reactions were mixed, with the price experiencing both upward and downward movements as the market digested the news.&nbsp;</span></p> 
 <p><span style="font-weight: 400">At the time of writing this article, <a rel="noopener noreferrer nofollow" title="SHIB" href="https://thebittimes.com/tag/shib.html">SHIB</a> is trading at $0.000009567 with an impressive 1.98%, indicating a modest price increase within the last day.</span></p> 
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    Shiba Inu Price Chart. Source: Coingape/HighChart 
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 <p><span style="font-weight: 400">While burn rate increases can generate excitement, they should be evaluated within the broader context of the project’s goals, technological advancements, and competitive landscape.</span></p> 
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Shiba Inu (SHIB) Burn Rate Jumps 100%, Here's Price Reaction

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