.SHIBburn rate sees a substantial rise, but here's what's happening to the price. $SHIB shibarmy
The SHIB price seems to be somehow tied to the burn rate of this canine crypto token, as both have been dropping substantially this fall.
The most recent decline of the SHIB price was provoked by the major failure in the crypto market in early November – the collapse of FTX exchange and its pocket trading firm Alameda Research. Earlier today, Shiba Inu fell over 6%; the fall started with a few small red candles and finished with one big hourly candle on the chart. After the fall, SHIB has so far managed to regain slightly over 1% and isIn theory, when a coin becomes cheaper, it is easier to buy and burn, but it remains to be seen if the SHIB army will take that opportunity.
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