Hi Guys,

It's Big & Big #alert About $SHIB 3,894% Sky Rocket !!!

Shiba Inu Skyrockets 3,894% in Burn Rate, Millions of SHIB Vanish

Surge in SHIB burns coincides with sudden rise in whale interest

Dog-themed cryptocurrency Shiba Inu (SHIB)'s community is seeing a surge in burn rate, which has skyrocketed by an astounding 3,894%. This significant increase has led to millions of SHIB tokens being permanently removed from circulation.

Token burning is a process where a certain amount of cryptocurrency is burned to reduce its overall supply.

This is typically done by sending the tokens to a "burn" address, a wallet from which they can never be retrieved. The primary goal of burning tokens is to create scarcity, which can potentially increase the value of the remaining tokens.

In the last 24 hours, Shiba Inu has seen a significant uptick in the burn rate, with millions of tokens being torched. According to Shibburn X's account, in the past 24 hours, a total of 4,829,147 SHIB tokens have been burned in seven transactions.

This caused a 3,894% increase in the burn rate. In the past 24 hours, there have been a total of 4,829,147 $SHIB tokens burned and 7 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

The surge in SHIB burns coincides with a sudden rise in whale interest for SHIB, with the number of large transactions involving SHIB doubling this week compared to the averages seen earlier in 2024.

According to Santiment, Shiba Inu's recent surge appears to have been triggered by a spike in whale interest.

Santiment noted that the amount of $100,000 transactions on the Shiba Inu network has more than doubled this week compared to usual 2024 averages, signaling accumulation.

#StartInvestingInCrypto #Write2Earrn #EarnFreeCrypto2024 #MemeWatch2024