Shiba Inu (SHIB) has been reducing its burning activities lately, but despite this, the upward trend of the price has attracted attention.
Shibburn analytical platform, which provides data on SHIB incineration, attracted attention after new incineration reports published by SHIB. SHIB, which regularly carries out incineration operations, had reduced its burning rates in recent days. While we expected this situation to reflect negatively on the SHIB price, the opposite happened. Positively priced SHIB excited many memecoin investors, especially its ecosystem.
Data on Combustion Processes Announced
According to data provided by Shibburn, 1,250,000 SHIBs have been burned out of circulating supply in the past 24 hours, along with moves from the Shiba Inu community. These SHIB incinerations were carried out in two processes and 1,000,000 SHIB was burned in one and 250,000 SHIB in the other.
Despite the decrease in SHIB burning rates, the upward trend in its price has been one of the healthy data for memecoins. The re-igniting of the memecoin frenzy in recent days paved the way for Dogecoin (DOGE), Shiba Inu (SHIB) and especially Floki Inu (FLOKI), paving the way for great rises.
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