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Title: Shiba Inu Weekly Burn Rate Resurges, Here’s Possible Reason
The recent surge in the weekly burn rate of Shiba Inu (SHIB) has sparked intense speculation among investors and enthusiasts alike. According to a report, the data indicates that large holders have significantly increased their accumulation following weeks of neutral movement. This substantial shift is evident in net flows rising from almost zero to over 80 billion SHIB per day.
As we delve into the data, it’s clear that high-profile investors within the SHIB ecosystem are regaining interest in the asset. This renewed enthusiasm is further fueled by the possibility that large holders or “whales” may be moving money while simultaneously driving demand, which could result in an increase in the need to burn more tokens and maintain the cryptocurrency’s scarcity.
In light of this development, investors have started to wonder whether the SHIB whales are actively buying up the digital asset. This notion is not without merit, considering that the recent surge in large holder accumulation has seen a 120% increase in net flows over the past 30 days. This significant growth may be an indication that high-profile investors are re-entering the market.
It’s essential to note that prior decisions to reduce SHIB’s burning activity did not significantly impact its price during this period, as it continued to trade in the red zone on most days. However, the decision to increase the pace of burning has generated optimism among investors, with many predicting an imminent explosion in SHIB’s price.
While the recent development may be seen by some as a precursor to a potential rally in the price of SHIB, it is essential for investors to maintain a cautious approach when analyzing market trends and making investment decisions.
Source: https://u.today/shiba-inu-weekly-burn-rate-resurges-heres-possible-reason
