SHIB token burn fails to inspire major price move; is GFOX stealing SHIB’s thunder?
Shiba Inu embarked on a token-burning spree at the beginning of the year. The aim was simple: reduce the supply of $SHIB and increase its value. However, this didn’t cause as significant a price increase as expected, leaving some wondering if the entry of newer coins like Galaxy Fox is stealing its thunder. Galaxy Fox is making its mark with some analysts describing it as the best upcoming ICO because of its utility and potential for high returns. Is $GFOX taking the spotlight from $SHIB? Let’s break it down. SHIB token burn fails to inspire major price increase 2024 started with the crypto community buzzing with enthusiasm about Shiba Inu’s initiative to burn its tokens. The $SHIB team, in tandem with the community, engaged in burning sessions using fees from the Ethereum Layer 2 network Shibarium. However, recent data suggests that the fervour has dwindled. Recently, a mere two burn transactions were recorded by the Shibburn tracking website...