SHB is Sinking Despite Higher Burn Rate
Shiba Inu (SHB) is depreciating by 4.5% to $0.0000089 this week. The altcoin has recovered some losses after a 10.5% dive to $0.0000083 on Tuesday. However, this dynamic could be worth considering, given the 7.5% drop of Bitcoin and 12.3% of Ethereum.
The reason for this "strength" could be found in the surging burning rate this week. This rate jumped by 459%, and lastly by a mind-blowing 4250%, according to Shibburn. More than 146 million SHB were burned during a single day. Significant whale activity supported prices too.
Despite these efforts, the altcoin is still below $0.00001, potentially leading prices to the support at $0.0000075.
Disclaimer:
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
Content Ownership:
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
Community Guidelines:
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.
