SHIB Burns Jump 157,726% After 5% Dip; Exec Dey See Bullish Fall
SHIB price drop about 5% go down to $0.00001204 after dem slide 11% for the week, even though daily burn rate sharply increase 157,726.72%. On-chain data show say dem send 2,411,616 SHIB tokens go dead wallets for one day. But the weekly burn volume dey still small for 14,068,717 SHIB, drop 76.32% from before periods.
Lucie wey be Shiba Inu marketing oga say the burn spike na because of community-led initiatives and she encourage make people still dey use Shibarium, SHIB layer-2 scaling solution. She talk say the autumn go better as macro rate cuts fit happen and ecosystem development still dey go on na the main reason.
Traders suppose dey watch the total burn volumes, Shibarium transactions growth, and how market dey behave. Even though one-day burn spike fit bring short-term rally, sustainable demand go depend on steady on-chain activity and real-world use. SHIB supply reduction efforts dey support the price, but price stability dey depend on overall crypto market mood and macro factors.
Neutral
Di big one-day burn spike show say di community dey active join, but e effect for SHIB price no too strong because di overall volume low and dem recently drop 11% for di week. Past burn events don bring short rallies, but any long term gain depend on how Shibarium go catch on, steady on-chain activity plus how market dey feel in general. Di executives dey optimistic say some good things fit happen dis autumn, but di mixed signals from price drop and isolated burn spikes make sense to keep neutral view.