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Sand burning rate and prices notes a resurgence, but the volume remains in the red. What does this mean for the Shib ecosystem?
After several days of falling burning activity, it seems that Shiba Inu has resumed her regular -scale token burns. The data from the Shibburn blockchain follow -up company show a massive increase of 580.28% of the shib burning rate in the last day.
This occurs in the midst of a wider market rebound, with a global market capitalization of cryptography increasing by 4.27% at the time of the press. Shib also reflected the upward trend of its burning metric, climbing 5.89% at the price during the same period.
According to a tweet published by the data monitoring company, the SHIB team burned 16,607,692 Shib in the past 24 hours – a massive increase of 590.19% compared to the day before.
The shib burning strategy is to send large amounts of token to the dead portfolios in order to reduce food in circulation and drive rarity.
This three -digit tip in the burning rate has brought the offer in total circulation of sampon tokens to approximately 584 billions.
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Despite this daily increase, the data reveals a significant drop in the weekly shib weekly burning rate. The increase of April 11 follows a slow week in which only 79.1 million sombings were burned, marking a decrease of 57.86% compared to the period of 7 days previous.
Although the reason for the sudden leap in the burning rate is not clear, speculation suggests that the SHIB team may have rekindled the strategy to restore investors’ confidence and fuel the bullish momentum.
Despite the sharp increase in the shib burning rate, reflected by its price leap to $ 0.0000,1232 from press time, the token trading volume remains in the red, which raises concerns among investors.
Coinmarketcap data show that the SHIB trading volume has dropped considerably from 21.54% to around $ 175.53 million in April 11.
This suggests that the rebound in the burning rate and the price of shib can be more motivated by the efforts of the internal community than by the real commercial impulse, leaving questions about the sustainability of its upward trend.