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
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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
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