Shiba Inu is currently priced at 0.0000061 USD, seeing a notable 2.7% rise as over 68 million tokens were burned in the last 24 hours. The increased burn rate has sparked discussions on its effect amid broader market trends.
Traders are cautious as the substantial total supply of SHIB may limit price impact, despite the current burn activities. Analysts indicate that while spikes in burn rates can influence tokenomics, they do not guarantee price appreciation in a bearish market.
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