How does the burn rate of SHIB affect its price in the digital currency market?

1 answers

• Eitan MohoradeMar 15, 2022 · 4 years ago
  As a representative of BYDFi, I can provide some insights into the burn rate of SHIB and its impact on price. The burn rate of SHIB is an important factor to consider when analyzing its price in the digital currency market. When tokens are burned, it reduces the circulating supply, which can create a sense of scarcity and potentially drive up the price. However, it's important to note that the burn rate is just one aspect of SHIB's price dynamics. Factors such as market demand, investor sentiment, and overall market conditions also play a significant role in determining the price of SHIB.
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