Shiba Inu Token Shows Resilience

Despite the slow weekend trading session, the quantity of burned tokens on the Shiba Inu network increased significantly. The SHIB combustion rate has risen to a remarkable 150%.

Token burning is the deliberate removal of tokens from circulation, effectively reducing the total supply. In the case of Shiba Inu, the weekend increase in the consumption rate may result in favorable token price dynamics.

Assuming demand remains constant or grows, the price of each remaining token could increase if the remaining supply decreases, provided that demand remains constant or grows.

Nevertheless, despite this encouraging increase in the burn rate, the Shiba Inu token is experiencing a difficult market phase at present.

The recent Poly Network hack resulted in the sale of over 90 billion Shiba Inu tokens, generating significant market selling pressure.

Nevertheless, despite this setback, the token has shown resilience, as its price has remained unchanged at $0.0000075.

This price stability, despite the increased selling pressure, indicates robust market liquidity for Shiba Inu.

The combination of the increased combustion rate and this resilience could set the stage for a significant price increase shortly.

Nonetheless, it is crucial to monitor the outcome of the most recent hack closely and trace wallets associated with the exploiter.

As always, with cryptocurrencies, extreme caution is required. The market is notoriously volatile and susceptible to a variety of influences.

Investors should maintain knowledge and invest only what they can afford to lose.