- Fri Feb 07, 2025 6:57 am
#20735
SHIB Burn Rate Surges 470%, But Price Continues to Fall: Is the Burn Strategy Failing?
Over 15 million SHIB tokens have been burned in the past 24 hours, resulting in a dramatic 470% increase in the SHIB burn rate. However, despite this seemingly positive development, SHIBs price has continued to decline, dropping by over 6%. This begs the question: is the SHIB burn strategy truly effective in the long run? Or are other factors, such as whale activity and overall market sentiment, outweighing the impact of burns?
The recent massive outflow of 1.24 trillion SHIB from Kraken, worth over $20 million, further complicates the picture. Could this whale movement be contributing to the price drop, despite the increased burn rate? How much influence do whale actions have on SHIBs price compared to the token burns?
What are your predictions for the future of SHIB? Will the burn strategy ultimately succeed in driving up the price, or is SHIB destined to remain volatile? Lets discuss the effectiveness of SHIBs burn strategy and the factors influencing its price. Share your insights and opinions below.
Over 15 million SHIB tokens have been burned in the past 24 hours, resulting in a dramatic 470% increase in the SHIB burn rate. However, despite this seemingly positive development, SHIBs price has continued to decline, dropping by over 6%. This begs the question: is the SHIB burn strategy truly effective in the long run? Or are other factors, such as whale activity and overall market sentiment, outweighing the impact of burns?
The recent massive outflow of 1.24 trillion SHIB from Kraken, worth over $20 million, further complicates the picture. Could this whale movement be contributing to the price drop, despite the increased burn rate? How much influence do whale actions have on SHIBs price compared to the token burns?
What are your predictions for the future of SHIB? Will the burn strategy ultimately succeed in driving up the price, or is SHIB destined to remain volatile? Lets discuss the effectiveness of SHIBs burn strategy and the factors influencing its price. Share your insights and opinions below.
- By Anonymous