Shiba Inu’s burn rate surged by 700%, removing 15 million SHIB tokens from circulation.
Shytoshi Kusama’s bullish statements at Token2049 and a potential Tron partnership have fueled excitement.
While SHIB is trading with a 0.18% loss in the last 24 hours, the crypto community braces for further gains.
Shiba Inu has gained serious momentum thanks to a massive 700% jump in its burn rate and bullish comments from Shytoshi Kusama at the Token2049 event in Singapore. The SHIB token initially surged over 9% on the news but is currently trading with a 0.18% loss in the last 24 hours as the crypto community anticipates further gains.
According to the Shibburn wallet tracker, Shiba Inu’s recent spike in burn rate, up 772%, has removed 15 million SHIB tokens from circulation. This significant reduction in supply has the market eyeing potential gains.
Most of this burned SHIB (14,980,422 tokens) was sent to an unspendable blockchain address in a single transaction. Additionally, two other transactions saw roughly 100,000 SHIB combined sent to dead-end wallets.
Altcoin Buzz, a crypto analyst, predicts a 36% rally, suggesting SHIB could reach $0.00002 if…
The post Shiba Inu Burn Rate Surges 700%, Price Rally Fueled by Kusama’s Remarks appeared first on Coin Edition.
