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In an interesting turn of events, the Shiba Inu burn rate has received a massive boost in the last day. This is a welcome change to the slow momentum which the burn initiative had recorded over the last week, proving that the SHIB community is coming back to the table to burn more tokens.
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Shiba Inu lead developer, Shytoshi Kusama has announced an exciting new update for the SHIB ecosystem, declaring the imminent rollout of the highly anticipated ShibaSwap 2.0.
ShibaSwap 1.75 Set To Pave The Way For 2.
Shiba Inu is currently on a consolidation path after a strong upswing earlier in the month. Specifically, SHIB is currently down by 13% in the past seven days, although still up by 210% in a wider 30-day time frame.
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Shiba Inu (SHIB) has established a critical price support level amidst the market-wide downtrend, which has kept crypto prices down. This support level has been established thanks to a host of Shiba Inu holders who have invested in the meme coin at that price level with a 2 trillion SHIB buy order.
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Dogecoin has been in a bearish sentiment among investors in the past week that even a tweet from Elon Musk referencing the cryptocurrency earlier in the week failed to do much to cause a price reversal.
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Cardano has been struggling in the market over the last few weeks, completely erasing its gains from March. This continuous decline has put the digital asset in a perilous position as it has dropped drastically on the list of the top 10 cryptocurrencies by market cap.
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Despite experiencing steep price declines in the past few weeks, popular Shiba Inu marketing team member, Lucie, has remained optimistic about SHIB’s price fundamentals, stating that the cryptocurrency is still on track for a supercycle.
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Shiba Inu continues to struggle in the market, especially as Bitcoin continues to demonstrate muted price movements ahead of the halving. This market-wide downtrend continues to keep the prices of cryptocurrencies down.
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Toncoin (TON) and Dogwifhat (WIF) are in the spotlight, having emerged as the best-performing altcoins since the start of the year ahead of other performing altcoins like Dogecoin (DOGE) and Shiba Inu (SHIB).
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The Shiba Inu (SHIB) burn rate is again the focus, as it experienced a significant decline just a day after recording a massive spike in burn rate activity. This has undoubtedly raised concerns, considering how vital these token burns are to the SHIB ecosystem.
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The Shiba Inu ecosystem has hit another remarkable milestone, surpassing four million total addresses on its network. This achievement comes amidst fluctuations in the cryptocurrency’s price and a string of sharp declines that have pushed its value below market expectations.
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Shiba Inu saw a lull in its burn rate last week, which coincided with the decline in the price of the meme coin. During this time, the number of tokens being burned on a daily basis dropped tremendously, causing the burn rate to suffer.
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Binance, the world’s largest cryptocurrency exchange, has released its latest Proof of Reserve (PoR) report, displaying trillions of Shiba Inu tokens held by users on the exchange.
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