Significant token burn surge did not lead to price rally some people might have expected
network. Large transactions have plummeted from a high of 120 to a mere 20 transactions. This decline in whale activity can be a double-edged sword. On the one hand, it could indicate a lack of confidence among significant holders, leading to potential price instability. On the other hand, it could also mean a more decentralized distribution of SHIB tokens, reducing the impact of large sell-offs on the token's price.
In the broader context, the burn rate and its potential implications on SHIB's price must be viewed alongside other market dynamics. The unsuccessful Shibarium launch and the subsequent ETH bridge issue were setbacks, but the community's proactive approach to burning tokens showcases its commitment to the project.
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