Shiba Inu Burn Rate Rises Again

Krutika Adani

Surge in Burn Rates

Shiba Inu recently saw a surge in its burn rate when on 5 October, the rate surged to 1000%. It also witnessed a surge in trade volume

Trading Volume and Burn Rate Linked

A high burn rate is linked to increased market activity. This is because the SHIB that is burnt in the ecosystem comes from transaction fees. So, higher trading volumes generate higher fees which ultimately increases the burn rate.

What Does it Indicate?

A high burn rate indicates that the ecosystem is healthy and is seeing a greater adoption.

Future Price Outlook

Shiba Inu could likely make a new ATH soon as the crypto recently bounced off from a 100-day EMA.

Levels To Watch

Shiba Inu must cross $0.00002 decisively before it can go for a new ATH anytime soon. On the downside, $0.000013 remains a strong support.

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