Shiba Inu (SHIB) experienced a dramatic 1,567% increase in its burn rate over the weekend, with 1.1578 million tokens burned in a single day. Despite this significant rise, SHIB's price remains stagnant at $0.00000825, showing declines on both daily and weekly charts. The market sentiment remains weak, with little price movement observed.
Potential catalysts for future price action include institutional developments such as Coinbase's introduction of SHIB futures and T. Rowe Price's recent ETF filing, which could provide upside momentum for the cryptocurrency.
Shiba Inu Burn Rate Soars 1,567% Amidst Stagnant Price
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
