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SHIB Burns Crash 73%, SHIB Price Follows Suit But Here’s a Catch
In a shocking turn of events, the Shibaverse was left reeling after a massive 290.4 billion Shiba Inu (SHIB) purchase by a newly-created wallet on Binance. The sudden influx of funds raised eyebrows as the market continued to struggle with price declines. However, what happened next is even more astonishing.
As it turns out, SHIB has experienced a massive burn rate of 73% in the past few hours, according to data from various sources. This unprecedented burn rate sent shockwaves through the crypto community, causing many investors and traders to hold their breaths.
But here’s the catch: despite this massive burn rate, the price of SHIB actually followed suit by plummeting as well! The unexpected move left many wondering what exactly is going on behind the scenes.
Rumors have been circulating about potential whales or large-scale holders cashing out and selling their SHIB holdings. However, experts caution that we should not jump to conclusions just yet.
“Market manipulation is always a possibility in crypto,” said renowned crypto analyst Dan Burgin. “We need more data before making any definitive statements.”
In related news, the same wallet that made this massive purchase earlier today also withdrew 97,111 AVAX worth $2.52 million on the same platform. Many are now speculating about the true intentions and motivations behind these transactions.
Only time will tell what exactly is going down with SHIB and its price action. One thing is for certain – we’ll be keeping a close eye on this developing story as it continues to unfold.
Stay tuned for further updates!
Source: u.today
