Record burning did not lead to an increase in the cost of SHIB tokens

Over the past two days, the number of burned SHIB tokens has increased several times. However, the cryptocurrency exchange rate has not entered the growth stage. On Saturday, December 24, the Shibburn tracker recorded a 642% increase in the number of destroyed tokens.. Over 28 million SHIBs burned that day. However, the price of the digital coin, according to the Bitfinex exchange, increased by only 0.73%.. This is explained by the fact that although 28 million is a large figure, it is about $233 in fiat money, which did not have a strong effect on the cryptocurrency with a capitalization of more than $4.5 billion. On Sunday, December 25, the situation repeated itself – about $30 million SHIB tokens, while the price fell by a little less than 0.5%. U.Today analysts drew attention to the lack of growth in the value of the token during the record liquidation of coins. Experts note that in order to ensure high volatility, it is necessary to burn several billion SHIB tokens. Despite this, Shiba inu is still an extremely popular meme-coin among Internet users and even ranks among the top 5 cryptocurrencies in terms of the number of search queries.