Shiba Inu’s burn activity surged by 1,307% over the past 24 hours, with 46.25 million SHIB tokens sent to dead or irretrievable wallets. Over the week, more than 126 million SHIB, worth approximately $678, have been permanently removed from circulation. Despite this massive supply destruction, SHIB’s price has stalled slightly above the $0.0000052 mark. Analysts note that token burns do not directly influence price movement and cannot alone drive a price increase for the asset.
Source: Read the original article
