Shiba Inu’s Coin Burn Sparks Market Buzz and Raises Questions about Price Potential

Recent data reveals a surge in Shiba Inu (SHIB) coin burns, with roughly 34 million tokens incinerated. This increase has ignited excitement among traders who believe it could influence the price of the altcoin. However, the market price of SHIB has experienced a decline, dropping over 50% since the start of the year. While this burn rate suggests potential positive impact on supply-demand dynamics, some remain cautious about short-term fluctuations in prices.