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SHIB Burns Collapse as Price Makes Unexpected Pivot
Despite the recent surge in Shiba Inu’s price, the token’s burn count has taken a surprising turn. On Christmas Eve, SHIB has seen a decline in its token burns, leaving investors wondering what this shift could mean for the asset’s future performance.
According to the Shibarium scan explorer, the layer-2 blockchain is approaching a major milestone with 698,969,876 transactions, an astonishing rise since December 12 when it stood at 4.58 million transfers. The daily number of transactions has also increased, currently reaching 4.71 million.
As the price of Shiba Inu (SHIB) jumped by more than 10% to reach $0.00002336, investors may be anticipating a similar upward trajectory for the token burns. However, this unexpected pivot could signal a shift in investor sentiment or potentially indicate that SHIB’s burn rate is no longer directly correlated with its price.
While Max Keiser predicted that Bitcoin would reach $2,200,000 per coin by 2024, Shiba Inu’s recent surge and the collapse of burns may be an indication that this market remains unpredictable. As always, it’s essential to conduct your own research before making any investment decisions.
Stay tuned for more updates on SHIB and the crypto space as a whole!
Source: u.today
