$SHIB recovers 13%, but ShibaInu burns are still down 80%. Shibburn memecoins
Burning is a mechanism implemented by various cryptocurrency platforms aimed at reducing the circulating supply of their cryptos. Coins are sent to dead wallets, from which they can never be withdrawn. This is why they are also known as unspendable wallets.
The purpose of burning is to reduce the supply, which makes a particular coin more scarce and, in theory, should help its price increase in the long run.Shiba Inu price rebounds Last week, the crypto market was shaken by the SEC filing charges against crypto trading giants Coinbase and Binance.US, accusing them of violating U.S. security laws. This pushed Bitcoin down to the $25,500 level, making the whole cryptocurrency market decline.
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