Less than 1 million $SHIB burned on the market, hinting at massively decreasing activity on the network
network recently experienced a steep drop in the token burn, falling below the 1 million token threshold. This marked one of the lowest values observed on the network in recent days.
A token burn, in the world of cryptocurrencies, refers to the process of destroying or"burning" tokens to reduce the overall supply and increase the asset's value. A drop in token burning could indicate a decline in demand for the asset and a decrease in investor confidence.could be tied to its recent price performance, which has been far from impressive. The asset lost around 20% of its value as whales began to take profits massively.
However, as the market rally slowed down, some investors began to take profits, and the price of Shiba Inu began to decline. The decline in price was further amplified by the recent drop in token burning, causing alarm among retail investors. By press time, the downward pressure had faded.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Shiba Inu (SHIB) Spikes 11% Weekly, But Here's What's Happening with Burn RateShiba Inu (SHIB) has been rising in past seven days, here's how recent SHIB burns have reacted to that
Les mer »
Shiba Inu (SHIB) Forms Strongest Divergence in Asset's History: It May Lead to ThisCrypto Market Review: $SHIB shows strong divergence between the price and the RSI, while $ETH shows two-year high in OI
Les mer »
Shiba Inu (SHIB) Now Accepted by Leading Dubai University via This IntegrationShiba Inu (SHIB) payments now accepted at leading Dubai University ShibArmy SHIBCommunity $SHIB
Les mer »
Shiba Inu Tokens Actively Bought by This Fund Amid 7% Drop in SHIB PriceThis fund uses $SHIB price drop and bets more on Shiba Inu tokens shibainu shib shibarmy shibarium shibaeternity shibadoge shibburn
Les mer »
This Event Marked Absolute Top for Shiba Inu (SHIB)Is disgraced FTX CEO Sam Bankman-Fried behind Shiba Inu's never-ending downward spiral?
Les mer »
Trump White House Asked Twitter to Take Down Chrissy Teigen Burn'I thought that was an inappropriate action by a government official, let alone the White House,” Rep. Connolly said. “But it wasn’t Joe Biden, about his son’s laptop. It was Donald Trump, because he didn’t like what Chrissy Teigen had to say about him.'
Les mer »