Shiba Inu (SHIB) has seen its burn rate increase by over 10,990% in the past 24 hours, with 21,435,658 SHIB tokens removed from circulation. The goal is to reduce the supply to increase value. However, the SHIB community is being warned about scams related to new projects on ShibaSwap DEX.
Justin Sun has made a new move with the large amount of ETH they are holding.
10 hours ago, they used 18k $ETH ($67M) to swap for LRT PT on Pendle:
- 10k ETH exchanged for 10k PT-weETH - 5k ETH exchanged for 5k PT-pufETH - 3k ETH exchanged for 3k PT-rsETH
This move indicates that they aim to optimize profits while holding a large amount of $ETH , and most of the remaining $ETH in the wallet is also being staked by J. Sun on other platforms.
The maturity date is on June 27, 2024, with a fixed interest rate of around 17-21%. The estimated profit by the maturity date could be about 220 $ETH .
If BTC closes at 68,678 tomorrow, in the short term, it is likely that BTC will rise to the 72,980 region or even higher. However, if it closes below 68,678, BTC could potentially drop to the two regions shown in the chart and possibly even lower. Everyone should be aware to always use stop-losses whether going long or short!
STX, also known as Stacks, is a new blockchain platform originating from Bitcoin, aiming to enable the development of decentralized applications (dApps) on Bitcoin. It integrates features of both Bitcoin and Ethereum, but with the advantage of using Bitcoin's security mechanism. STX also has its own token, which is used to pay for transaction fees and other services on the platform. STX has become a project that has attracted attention in the blockchain community, with the goal of providing an easy-to-use and secure environment for building decentralized applications on Bitcoin.
I have two suggestions for you with the current BTC: TP 2 is 69.94 and TP 3 is 70.420
#Bitcoin always recover if you wait long enough,if there is any coin not to ever underrate then it $BTC because the pump will always happen.
Remember, market movements often defy even the most logical expectations, and patience is key in the crypto game!
If you haven’t started following TL: @perday100usdt
already, I would highly recommend following her, he’s one of the *super underrated*, extremely knowledgeable OG Bitcoiner, I guarantee you will like the Trade analysis- you’ll see.
Shiba Inu Cryptocurrency Sees Significant Increase in Token Burn
Shiba Inu (SHIB) cryptocurrency has seen a significant rise in token burns, with a 192% increase in the past 24 hours, resulting in 4,796,486 SHIB tokens being removed from circulation. This surge in burns, reported by Shibburn X, coincides with subdued trading activity in major cryptocurrencies like Bitcoin. Shiba Inu experienced profit-taking after a 20% rally to $0.0000294 on May 29 but has since declined for four days, dropping 2.18% to $0.00002473. The market's response to this profit-taking phase will be crucial in determining SHIB's short-term price trajectory, with the 50-day SMA at $0.00002454 being a key support level.$SHIB #shiba⚡ #Shibalnu