"BURN 53 Million Mysterious Shiba Inu Tokens Surprise the Shiba Inu Community"
In this case, the mysterious entity's burning of SHIB represents about 0.0003 percent of its total supply. Even though it seems small, this number can have quite a pronounced impact on supply and demand dynamics.
Meanwhile, the eleven transactions accompanying this token burn raise interesting questions. Several questions arise from the community, namely whether these transactions were regulated by a single entity that owns a large stake in Shiba Inu?
One possibility that the community considers the most plausible, is that a group of whales have been burning these tokens as a way to manipulate the market. This is a concern for fans, because of the reduction in the supply of tokens and creating excitement. There are suggestions that these whales are planning to do a rug pull.
The first sign is trading volume. This is because the price of SHIB has fallen along with trading volume. This shows one thing clearly, namely a movement trend is starting to run out of fuel to continue rising.
Declining volume, paired with declining price, often signals that the downward move is losing steam. It's as if the market is finding less reasons to push the asset down.
With the presence of the Shibarium Layer 2 solution, the ecosystem can be revitalized and injecting optimism. The relaunch of Shibarium has added credibility and utility to SHIB, making it much more than just a meme coin.
On an optimistic view, the market seems to be running out of reasons to devalue SHIB. Decreasing volumes and prices, in addition to successful technology updates, promise massive gains for this asset.
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