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Shiba Inu Burn Collapses 93%, Is Major SHIB Reset in View?
The recent collapse of Shiba Inu’s burn rate by a staggering 93% has sparked concerns among investors regarding the potential for a major reset in the market. The data from Shibburn, a platform tracking daily burn rates, shows that only 225,774 SHIB tokens were sent to dead wallets over the past 24 hours, a significant drop from previous levels.
The Shiba Inu ecosystem relies on this deflationary metric to reduce the circulating supply and potentially push up prices. However, with less than a quarter of a million tokens incinerated in the last day, it appears that the market will not register any substantial impact.
Historical trends suggest that investors may be taking profits after a recent surge, which is leading to the current bearish outlook. This sentiment can also lead to the meme coin’s failure to deliver an expected price response.
Source: u.today
