Shiba Inu Burn Rate: The Shiba Inu cryptocurrency has gained a lot of traction in the crypto space as the token price has increased significantly.
As cryptocurrencies continue to make significant inroads in the crypto space, Ethereum-based altcoin Shiba Inu has once again captured the attention of crypto market enthusiasts.
Shiba Inu (SHIB) has seen a significant increase in its burn rate over the past 24 hours, destroying millions of tokens.
Additionally, a massive whale transaction also caught the attention of cryptocurrency market traders as it transferred trillions of SHIB to an unknown wallet.
Meanwhile, Shiba Inu prices also remained on the rise amid the aforementioned SHIB saga, creating a stir in the wider crypto market.
SHIB Burn Rates and Whale Activity: Report
Shibburn, a platform that facilitates insights into SHIB burns, recently released data on the surge in SHIB burn rates. The data shows that the burn rate surged 803% in the past 24 hours, with 10.34 million SHIBs destroyed. As the Shiba community continues to work hard to improve the SHIB token economy, the burning of SHIB continues to surge.
Furthermore, another phenomenon that has caught the attention of cryptocurrency market enthusiasts is the massive whale activity surrounding the Shiba Inu cryptocurrency.
According to Whale Alert, a platform that provides blockchain tracking metrics, a whopping 4.22 trillion SHIB was transferred between unknown wallets.
Furthermore, according to market statistics, the unknown wallet address 0xceb6b2bc…d04eedbe59 was recently noticed to transfer the above to another wallet 0xda2d9398…95bbe536f9.
Recent progress made by the Shiba community, including a surge in burn rates and whale activity, appears to be in line with the massive growth witnessed by the SHIB token.
Shiba Inu price increase
As of this writing, the Shiba Inu price has increased slightly by 1.91% in the past 24 hours to $0.000009799. Additionally, memecoin has also seen a significant increase of 19.08% in the past week and 17.38% on a monthly basis.
The price surge experienced by the token is a significant milestone for the Shiba community as it recently surpassed LTC and DAI cryptocurrencies in the global market capitalization rankings.
As the community continues to push the Shiba Inu cryptocurrency further higher, crypto traders and investors across the globe are paying extensive attention to the coin, showcasing the upcoming bull run for the coin.
【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.
