Price: $0.39254 1.899%
Market Cap: 57.66B 1.748%
Volume (24h): 8.59B 0.4%
Dominance: 1.748%
Price: $0.39254 1.899%
Market Cap: 57.66B 1.748%
Volume (24h): 8.59B 0.4%
Dominance: 1.748% 1.748%
  • Price: $0.39254 1.899%
  • Market Cap: 57.66B 1.748%
  • Volume (24h): 8.59B 0.4%
  • Dominance: 1.748% 1.748%
  • Price: $0.39254 1.899%
Home > Information news > Massive Interest in Shiba Inu Coin as Burn Rate Skyrockets

Massive Interest in Shiba Inu Coin as Burn Rate Skyrockets

Release: 2023/12/09 18:02 Reading: 439

Original author:COINTURK NEWS

Original source:https://coinmarketcap.com/community/articles/65743719395b8862a0f65a0c

One of the most popular altcoins, Shiba Inu (SHIB), is seeing significant interest today. With the community witnessing a tremendous increase in the SHIB burn rate, a noted whale transaction has sparked curiosity among the community. Also, with the tokenomics of SHIB witnessing several developments, it’s noticeable that the altcoin’s price has significantly increased. SHIB, which has erased one zero from its value, is attracting more and more interest from investors and traders.

SHIB’s Burn Rate Is Rapidly Increasing

In the last 24 hours, Shiba Inu’s burn rate soared to 82,896 percent (approximately 830 times), causing the uptrend in the community to rise again. Just within a short period of preparing this post, 23 million SHIBs were burned. Current data shows that the number of SHIBs burned from its initial supply has reached 410.67 trillion.

What’s truly intriguing about Shiba Inu is that Whale Alert, a platform that provides on-chain data, recently revealed a large whale transaction during the burn rate hike. Whale Alert reported that 4.23 trillion SHIBs were transferred from an anonymous wallet address starting with 0xda2… to another anonymous wallet address starting with 0x824… The transferred SHIBs are currently worth $42.21 million.

The massive whale transactions in the middle of the burn rate’s significant increase have led to speculation about a tremendous bullish expectation being triggered for SHIB.

Shiba Inu’s Price Rally Continues

Shiba Inu, which presents itself as a Dogecoin killer, is trading at $0.00001022 with an increase of more than 2% in the last 24 hours. The altcoin’s price has increased more than 20% in the last month, and market observers expect the increase to become much stronger as the activity on the network increases day by day.

On the other hand, with the current rally, a zero has been erased from the price of SHIB. Although the popular altcoin’s price has been stagnant in recent weeks, the current outlook signals that much larger moves could come in the short term in terms of price.

Continue Reading: https://en.coin-turk.com/massive-interest-in-shiba-inu-coin-as-burn-rate-skyrockets/

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.