Shiba Inu Gains Rip Past Dogecoin, Pepe Coin As Over 79M Tokens Get Burnt In 24 Hours
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) has seen a significant increase in its token burn rate, with over 79 million SHIB tokens burnt in the last 24 hours. This comes as investors anticipate the launch of Shibarium, a layer-2 solution. SHIB has outperformed other meme coins including Dogecoin (CRYPTO: DOGE) and Pepe coin (CRYPTO: PEPE) in terms of market capitalization. The accelerated burn rate of SHIB tokens has surged by more than 15% within the past 24 hours.
August 11, 2023 | 3:48 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Dogecoin experienced a modest increase of 0.55%, underperforming compared to Shiba Inu.
While Dogecoin has seen a modest increase, it has been outperformed by Shiba Inu, which could potentially impact investor sentiment and trading behavior.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Pepe coin rose 1.44%, underperforming compared to Shiba Inu.
Pepe coin has been outperformed by Shiba Inu, which could potentially impact investor sentiment and trading behavior.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Shiba Inu has seen a significant increase in its token burn rate, which has led to a 3.50% increase in its value over the past 24 hours.
The significant increase in Shiba Inu's token burn rate has led to a surge in its value, which is likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100