$SHIB saw a large spike in transaction amount and volume, potentially bringing pressure back to the market
network saw a massive surge in transactions on March 31, marking the most significant increase in activity in recent months. While the exact reasons behind the explosive growth in transaction volume remain speculative, there are several factors that could have contributed to this sudden uptick. One potential explanation is the recent burn rate spike that led to the removal of 1.
1 billionThe burn rate spike, which occurred just days before the surge in transactions, may have influenced the Shiba Inu community's perception of the token's value. With a significant portion of the circulating supply removed, SHIB tokens could be perceived as more scarce and valuable, prompting increased trading and transaction activity.
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