SHIB burn rate surged 48,083.50% in 24 hours, with 235 million SHIB burned.

Community and developers torched 36 billion SHIB across November and December.

Whales moved trillions of SHIB, including a $45 million transfer, signaling increased whale interest in Shiba Inu.

Shiba Inu (SHIB) has seen an extraordinary surge in its burn rate, marking a remarkable 48,083.50% increase within a mere 24-hour window. 

This astounding spike in burning activity resulted in the incineration of 235,603,488 SHIB tokens. It is primarily attributed to a substantial single transaction funneling 220,729,973 SHIB into an unspendable wallet. 

Both the Shiba Inu community and its developer team have fervently contributed to this incineration spree, deliberately eliminating substantial quantities of SHIB coins. This concerted effort has led to the torching of over 36 billion SHIB throughout December and the final week of November, indicating a collective drive to bolster the token’s value through controlled supply.

Concurrently, the landscape has witnessed monumental movements orchestrated by cryptocurrency whales. Notably, a series of massive SHIB transfers, with one transaction accounting for a staggering 4,253,619,279,051 SHIB, valued at $44,909,712 during its transfer. 

4,253,619,279,051 #SHIB (44,909,712 USD) transferred from unknown wallet to unknown wallethttps://t.co/BBTttRFHNO

— Whale Alert (@whale_alert) December 29, 2023

Another notable instance involved a whale receiving a substantial 417.138 billion SHIB, equivalent to $4.43 million in fiat. This showcases an evident upsurge in interest from these influential market players toward Shiba Inu.

This convergence of intensified burning initiatives within the community and the significant engagements by whales signals a profound shift within the Shiba Inu ecosystem. The collective effort to reduce circulating supply and the increased involvement of whales in massive transactions hint at a transformative phase for SHIB.

Read also:

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Shiba Inu Burn Rate Soars Ahead of Shibarium Launch, ATH Soon?

Shibarium Gas Fees Soar as Shiba Inu Burn Rate Rockets Close to 200M

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The post Shiba Inu Burn Rate Soars as Mega-Whales Move Trillions appeared first on Crypto News Land.

VeChain has been known to do 188x in a bull cycle, and according to one analyst, it’s one of the tokens set to implode in this bull market despite being one of the ‘old coins.’The token has been in two cycles, the first as an ERC-20 token (VEN) and then as a standalone project (VET); the analyst says it’s due a third surge, which could surpass 5,000%.
VeChain was once one of the most implosive cryptocurrencies in the market, hitting over 17,000% gains in two previous bull markets. Since then, tokens like Solana and Avalanche have taken the spotlight, getting all the investor funding. However, according to one analyst, VET might be one of the tokens to watch in the current bull cycle, and he predicts it will surge by over 5,000%.
VeChain is trading at $0.03453  at press time, shedding just over 4% in the past day. In the past month, it has gained 60%; since the year began, it has shot up 122%.

Despite having a market cap exceeding $2.5 billion, the token has failed to attract investor interest, with its trading volume at $49 million. This ranks below smaller projects like Terra Classic, NEO, Axie Infinity and MultiverseX, formerly Elrond.
Despite dropping out of favour with investors, one analyst believes it might be the project to watch in the upcoming bull cycle. Known to his followers as Raidenx, the analyst says that VET is heading to $1, which would be a 5,400% surge from its current price. This would push its market cap to $72 billion, which, by today’s standards, would only be bettered by Bitcoin, Ether and Tether.
“If you only knew what was coming, you would be shaking with excitement,” the analyst says, urging investors to ignore all the influencers who dismiss VET as an “old coin.”

VeChain (VET) to $1
As the analyst points out, VeChain has been through two other major bull runs. In its first, it gained 18,800% to hit new highs in 2018. Back then, it was known as VEN and was deployed on Ethereum as an ERC-20 token.

The VeChain team then migrated the project from the Ethereum network to its own blockchain and rebranded as VET. As the analyst observes, the naysayers dismissed VET as an old coin, but again, it ended up being one of the best performers in the market, hitting over 17,000% in gains.
In the last cycle VET was considered an ‘old coin’ & your favourite influencers told you to only look at new coins as old ones wouldn’t perform. VET outperformed 99% of them & did over 177x!

All these gains were prior to the major moves that VeChain has made since. They include becoming the poster child for blockchain-based environmental conservation through its partnership with BCG. As CNF has reported severally, the two are building an ecosystem in which users are rewarded for their actions towards saving the planet, incentivizing conservation for the masses.
$VET #VET #VeChain

According to Foresight News, AI-driven user-generated content (UGC) platform NFPrompt has announced an upcoming AMA (Ask Me Anything) event on December 30th at 21:00. The event, titled 'Inscriptiens: Where are they going?', will be co-hosted by BNB Chain and multi-chain inscription marketplace evm.ink. During the AMA, NFPrompt is expected to reveal more information about its AIGC inscription infrastructure.