Shiba Inu defies all odds and skyrockets 6,018% in major metric
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For those who do not know, sending SHIB tokens to dead wallets is a highly efficient practice. It is useful in making it a deflationary coin. Moreover, it helps in making the overall SHIB ecosystem more efficient and streamlined.Peter Schiff on Bitcoin Crash: The Bear Is Still Young The Shiba Inu community has successfully burned more than 410 trillion coins. The current circulation supply of the coin is just over 583 trillion tokens. These figures are enough to emphasize the necessity of these token burn events.Amid this latest surge in burn rate, the SHIB price is also showing signs of a potential recovery. As of the time of writing, Shiba Inu is trading at $0.00001724. The price of the highly popular meme coin has surged 2.
Interestingly, SHIB has witnessed a rise of 27.89% in its 24-hour trading volume. Currently at $320.98 million, the rising volume shows the changing sentiment on the crypto market. Traders appear to be bullish on the meme coin after the recent The skyrocketing burn rate coupled with the rising trading volume are indicating a possible rebound from current levels. Such developments, along with the support from the community, have the potential to push the SHIB price to higher levels.
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