Shiba Inu’s Burn Rate Surges 400%
Shiba Inu, a popular meme coin on the Ethereum blockchain, has seen a massive increase in its burn rate, causing excitement in the crypto market. According to Shibburn, the burn rate has surged by approximately 400%, leading to increased curiosity among traders and investors.
The Burning Saga of SHIB
Shibburn data reveals a 395.43% surge in SHIB’s burn rate, with 18.24 million tokens burned in the past 24 hours. Three major burn transactions were responsible for burning 16.56 million SHIB. The total number of coins burned now stands at 410.707 trillion, gaining global attention.
However, Shibarium, Shiba Inu’s layer two blockchain, has experienced a decline in activity. Daily transactions on the network have dropped to 1.86 million from over 6 million recently.
Price Surge and Market Sentiments
The price of Shiba Inu has risen by 2.70% in the past 24 hours and is currently trading at $0.00001021. The weekly chart shows a 3.69% increase, while the monthly chart reflects a pump of 5.99%. This price surge aligns with the rise in the burn rate, creating bullish sentiments among traders.
Hot Take: Shiba Inu Continues to Make Waves
Shiba Inu’s burn rate surge and price rally indicate that the token is still making waves in the crypto market. With increased burning and positive price movements, Shiba Inu continues to attract attention and generate excitement among traders and investors.
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