SHIB declines amid bearish market, hitting 18-day low.
SHIB burns nearly 380M tokens in July, decreasing from June.
The cryptocurrency market is currently experiencing a bearish phase, with the global crypto market cap dropping by 3.17%. Despite this, trading volume has increased by 21%. Bitcoin has hit a 13-day low of $63,573.63, declining by 3% in the past 24 hours. This downturn has affected altcoins, which have fallen between 4-8%. Shiba Inu (SHIB) has also declined by 2.83%, reaching an 18-day low of $0.00001562.
Meanwhile, the SHIB team has ramped up its token-burning program, sending tokens to a null address. Data shows that nearly 380 million tokens were destroyed last month across 178 transactions. The peak burning day was July 11, with over 70 million SHIB burned, followed by July 22 with approximately 60 million SHIB.
Despite these figures, the USD equivalent of the burned tokens is relatively insignificant. Additionally, July’s burn rate represents a 58.5% de
We współpracy z: https://thenewscrypto.com/shib-hits-18-day-low-amid-active-token-burning-phase/
