Shiba Inu Burn Rate Spikes Over 130% — Can $10 Worth SHIB Make You A Meme Coin Millionaire Today?
Portfolio Pulse from Mehab Qureshi
Shiba Inu's burn rate has surged over 145% with 92 million SHIB tokens being removed from circulation. This comes as Shiba Inu’s lead developer, Shytoshi Kusama, introduced the Self-Sovereign Identity (SSI) solution for the Shibarium Layer 2 platform. $10 worth of SHIB currently buys 1,066,098 tokens.
August 07, 2023 | 3:36 am
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POSITIVE IMPACT
Shiba Inu's burn rate has surged, potentially increasing the value of remaining tokens. The introduction of the SSI solution could also enhance user empowerment capabilities.
The surge in Shiba Inu's burn rate could potentially drive up the value of the remaining tokens due to increased scarcity. The introduction of the SSI solution could also enhance user empowerment capabilities, potentially attracting more users and increasing demand for SHIB.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shiba Inu, self-proclaimed 'Dogecoin Killer', has seen a surge in its burn rate. This could potentially impact Dogecoin's market position.
As Shiba Inu, the self-proclaimed 'Dogecoin Killer', sees a surge in its burn rate, this could potentially impact Dogecoin's market position. Increased scarcity and value of SHIB could attract investors away from DOGE.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50