đđMeme Coin Goes Up in Flames: How 640% Increased Burn Rate Affects Price? đđ
Popular meme coin Shiba Inu is seeing a rapid rise in multiple metrics. According to data from Shibburn, the burn rate has increased by more than 640% in the last 24 hours. This indicates activity in the Shiba Inu ecosystem.
The increase in SHIBâs burn rate has caused the token to experience a dramatic price rally. At the time of writing, SHIB has gained 13% in the last 24 hours, pushing its price to $0.0000168, the highest level it reached last month. The optimism surrounding the meme coin has been further fueled by the stablecoin update proposed by the projectâs marketing lead, Lucie. The team believes that it is high time to launch a stablecoin, which they will call SHI and will be pegged at $0.01.
The potential role of the stablecoin in the ecosystem and some key selling points were also explained. The meme coin continues to grow rapidly by offering new products and services to its community. While there is no definite timeline for the launch of SHI, it provides the community with more positive support for the token. The existence of SHI will serve as a necessary component for Shibarium dApps and projects. Together with SHI, various smart contracts in the layer-2 scaling solution will have sufficient liquidity to support their growth.
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