Shiba Inu Jumps 7% As Shibarium Launch Nears — SHIB Worth $55M Burned In A Single Day
Portfolio Pulse from Mehab Qureshi
Shiba Inu (SHIB) surged by 7% in the last 24 hours, outperforming Dogecoin (DOGE), as the launch of Shibarium, a layer-2 solution, nears. The SHIB team confirmed its participation in the upcoming Blockchain Futurist Conference. The network operates by 'burning' SHIB tokens, reducing their supply and creating scarcity. In the last 24 hours, $55 million worth of SHIB tokens have been burned. A prominent investor has acquired $40 million worth of SHIB tokens.
August 09, 2023 | 7:07 am
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POSITIVE IMPACT
Dogecoin (DOGE) was up 2% in the past 24 hours, trading at $0.074.
The news is relevant to Dogecoin as it is directly mentioned in the article. The 2% increase in its price indicates a positive short-term impact. However, the importance is moderate as the news is more focused on Shiba Inu.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Shiba Inu (SHIB) surged by 7% in the last 24 hours. The network operates by 'burning' SHIB tokens, reducing their supply and creating scarcity. In the last 24 hours, $55 million worth of SHIB tokens have been burned. A prominent investor has acquired $40 million worth of SHIB tokens.
The news is highly relevant to Shiba Inu as it is the main focus of the article. The 7% surge in its price, the burning of $55 million worth of SHIB tokens, and the acquisition of $40 million worth of SHIB tokens by a prominent investor indicate a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100