Shiba Inu Burns 34 Million SHIB: Price Drop and Impact of Rising Bond Yields
— Coin Türk
SHIBA INU burned 34 million SHIB in the last 24 hours while its price dropped by 4%.
Shiba Inu burned 34 million SHIB in the last 24 hours, with its price dropping by 4% and the weekly burn rate falling by 79%.
- 34 million SHIB were burned in the last 24 hours; despite contributing to a decrease in supply, it had no significant impact on price.
- SHIB is currently trading at $0.00000556, reflecting a 5% decline on a weekly basis.
- $916 million in liquidations occurred across the market, with short positions being 11 times less affected than long positions.
Rising bond yields are exerting pressure on crypto assets, contributing to the price decline of SHIB.