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Uncategorized

Shiba Inu’s (SHIB) Burn Rate Reacts To 20% Price Increase As Shown Here

February 4, 2023 - Around 2 mins mins to read

Key Points:

  • The burn rate of the asset has not changed despite Shiba Inu’s 20% price increase over the past seven days.
  • This is due to the fact that the majority of the network’s burning volume is produced by businesses who accept SHIB and send it to a burning address, and the recent dip in burning volume may be related to a drop in network activity or a loss in the token’s popularity.
  • The asset has increased in value by more than 79% since the start of the market recovery in January, outperforming many other cryptocurrencies like Ethereum or Solana.
The burn rate of the asset has not changed despite Shiba Inu’s 20% price increase over the past seven days. A cryptocurrency’s burn rate, which measures the total number of coins being removed from circulation, is often regarded as a sign of how well-liked a particular asset is as a means of payment and how active the network as a whole is.
Shiba Inu

Despite the recent price surge, the burn rate for Shiba Inu has not altered significantly, which may indicate that the asset is still not frequently utilized as a payment method.

This is due to the fact that the majority of the network’s burning volume is produced by businesses who accept SHIB and send it to a burning address, and the recent dip in burning volume may be related to a drop in network activity or a loss in the token’s popularity.

image 385

Despite these reservations, Shiba Inu have been dominating the market. The asset has increased in value by more than 79% since the start of the market recovery in January, outperforming many other cryptocurrencies like Ethereum or Solana.

Shiba Inu was trading at $0.00015 and had increased in value by about 3% over the previous day. It is crucial to note that the emergence of a bearish divergence between the price of Shiba Inu and the Relative Strength Index (RSI) could potentially be a factor in the recent price increase in Shiba Inu. Technical analysis indicator known as RSI divergence is frequently used to gauge the strength of an asset’s price performance.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

Burn Rate

SHIB

Shiba Inu

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Uncategorized

Shiba Inu’s (SHIB) Burn Rate Reacts To 20% Price Increase As Shown Here

Key Points:

  • The burn rate of the asset has not changed despite Shiba Inu’s 20% price increase over the past seven days.
  • This is due to the fact that the majority of the network’s burning volume is produced by businesses who accept SHIB and send it to a burning address, and the recent dip in burning volume may be related to a drop in network activity or a loss in the token’s popularity.
  • The asset has increased in value by more than 79% since the start of the market recovery in January, outperforming many other cryptocurrencies like Ethereum or Solana.
The burn rate of the asset has not changed despite Shiba Inu’s 20% price increase over the past seven days. A cryptocurrency’s burn rate, which measures the total number of coins being removed from circulation, is often regarded as a sign of how well-liked a particular asset is as a means of payment and how active the network as a whole is.
Shiba Inu

Despite the recent price surge, the burn rate for Shiba Inu has not altered significantly, which may indicate that the asset is still not frequently utilized as a payment method.

This is due to the fact that the majority of the network’s burning volume is produced by businesses who accept SHIB and send it to a burning address, and the recent dip in burning volume may be related to a drop in network activity or a loss in the token’s popularity.

image 385

Despite these reservations, Shiba Inu have been dominating the market. The asset has increased in value by more than 79% since the start of the market recovery in January, outperforming many other cryptocurrencies like Ethereum or Solana.

Shiba Inu was trading at $0.00015 and had increased in value by about 3% over the previous day. It is crucial to note that the emergence of a bearish divergence between the price of Shiba Inu and the Relative Strength Index (RSI) could potentially be a factor in the recent price increase in Shiba Inu. Technical analysis indicator known as RSI divergence is frequently used to gauge the strength of an asset’s price performance.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

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