Shiba Inu Burn Rate and Whale Activity
A recent report has revealed that the burn rate of Shiba Inu (SHIB) tokens has experienced a massive increase, with 10.34 million SHIB burnt in the past 24 hours. This represents a surge of 803%. The burning of SHIB tokens is part of the community’s efforts to improve the tokenomics of Shiba Inu. Additionally, there has been significant whale activity surrounding the cryptocurrency, with a transfer of 4.22 trillion SHIB between unknown wallets.
Shiba Inu Price Upswing
The price of Shiba Inu has seen a slight increase of 1.91% in the past 24 hours, reaching $0.000009799. Over the past week, the memecoin has recorded a substantial surge of 19.08%, and it has also seen a monthly rise of 17.38%. This price upswing is a significant achievement for the Shiba community, as it has surpassed LTC and DAI in global rankings by market cap.
Hot Take: Shiba Inu Continues to Gain Momentum
Shiba Inu is once again capturing the attention of crypto enthusiasts as it makes significant strides in the crypto market. With an impressive burn rate and notable whale activity, the community’s efforts to improve tokenomics are paying off. The price surge of Shiba Inu further solidifies its position in the market and indicates a potential bull run for the token in the near future. As more traders and investors focus on Shiba Inu, it remains an exciting cryptocurrency to watch.
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