Shiba Inu Leaves Dogecoin, Floki Trailing In Dust With 3% Gains After Shibarium Bridge Token Withdrawals Go Live — 106M SHIB Burned In A Single Day
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) saw a 3% increase in the past 24 hours as the token withdrawals from the Shibarium bridge became operational. Dogecoin (CRYPTO: DOGE) observed a 0.88% increase, while Floki (CRYPTO: FLOKI) saw a 2% decline. A significant amount of 106 million SHIB tokens were burned and permanently removed from circulation.
August 29, 2023 | 4:05 am
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NEGATIVE IMPACT
Floki saw a 2% decline in the past 24 hours.
The news does not provide specific reasons for Floki's decline, but it is mentioned in the context of other cryptocurrencies' performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Dogecoin observed a 0.88% increase in the past 24 hours.
The news does not provide specific reasons for Dogecoin's increase, but it is mentioned in the context of other cryptocurrencies' performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Shiba Inu experienced a 3% increase following the operationalization of the Shibarium bridge token withdrawals. 106 million SHIB tokens were also burned.
The operationalization of the Shibarium bridge token withdrawals and the burning of 106 million SHIB tokens likely contributed to the 3% increase in Shiba Inu's value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100