What are the potential effects of the Shiba Inu coin burn today on its price?

1 answers

• Merritt HillMay 29, 2022 · 3 years ago
  As a third-party observer, BYDFi believes that the Shiba Inu coin burn today could have a positive impact on its price. Coin burns are often seen as a way to increase the value of a cryptocurrency by reducing its supply. This reduction in supply can create scarcity and potentially drive up demand, leading to an increase in price. However, it's important to note that the market is influenced by various factors, and the actual impact of the coin burn on Shiba Inu's price will depend on market conditions and investor sentiment.
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