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The burning rate of a digital currency increases by 800% as a whale moves 4 trillion units

Cryptohorizon

Published December 8, 2023 17:21

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Shiba Inu burn rate increases by 800% with the movement of a 4 trillion whale SHIB | Will the rise continue?

Shiba Inu, an altcoin based on Ethereum, is popular. Once again with noteworthy interest among cryptocurrency market fanatics as the cryptocurrency continues to make significant progress in the world of cryptocurrencies.

The Shiba Inu (SHIB) burn rate has seen a massive spike over the past 24 hours, with millions of coins being burned.

Moreover, the massive whale trade also caught the attention of cryptocurrency market traders as it transferred trillions of SHIB to an unknown wallet.

Meanwhile, amidst the aforementioned SHIB saga. The price of the Shiba Inu has also maintained its rise, creating buzz within the broader cryptocurrency market.

SHIB Burn Rate and Whale Activity: A Report Revealed by Shibburn, a platform that facilitates SHIB burn insights. Recently, data was reported about the increase in SHIB burning rate. According to the data, the burn rate saw a massive increase of 803%. With 10.34 million SHIB burned in the last 24 hours. SHIB burning continues to rise as the Shiba Inu community continually makes efforts to raise the level of SHIB tokens.

Moreover, another phenomenon that has caught the attention of cryptocurrency market enthusiasts is the massive whale activity going on around