SHIB sets new lows in weekly burn amount, this might be the cause Shibainu $SHIB SHIBCommunity ShibArmy
SHIB burning has decreased in recent months as the effects of the cryptocurrency bear market have taken their toll. The past week, described as one of the worst in crypto history, was a chaotic one, with crypto prices taking a drastic decline following the shocking news of the FTX implosion.
Bahamas-based FTX filed for bankruptcy on Friday after a rescue deal with rival exchange Binance fell through, precipitating crypto's highest-profile collapse in recent years. This might have partly led to the low numbers recorded in SHIB burning for the week. In the last 24 hours, a meager 2,045,478 SHIB tokens were burned in just two transactions.has put out reassuring words for the SHIB community:"We stand here with you as we continue to grow and work together for a brighter future in which decentralization and DeFi innovations create new opportunities for the people, and we invite every crypto community to join us in this effort.
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