Shiba Inu Burn Rate Skyrockets 730% Over Single Day After Whales Acquire $100M Worth Of SHIB Tokens
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) has seen a 3% surge in the last 24 hours, outperforming other notable cryptocurrencies such as Dogecoin (CRYPTO: DOGE), Pepe Coin (CRYPTO: PEPE), and Floki (CRYPTO: FLOKI). Large holders of Shiba Inu have acquired over $100 million worth of SHIB tokens in the past week. The SHIB burn rate has increased by 730% in the last 24 hours, with 77 million SHIB tokens removed from circulation. The Shiba Inu layer-2 network Shibarium has crossed the one million active wallets mark.
September 06, 2023 | 5:48 am
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POSITIVE IMPACT
Dogecoin has experienced a price increase of 1.8% in the last 24 hours.
The price increase of Dogecoin is likely due to the overall positive sentiment in the cryptocurrency market, as evidenced by the performance of Shiba Inu and other cryptocurrencies.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Floki has experienced a price increase of 0.30% in the last 24 hours.
The price increase of Floki is likely due to the overall positive sentiment in the cryptocurrency market, as evidenced by the performance of Shiba Inu and other cryptocurrencies.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Pepe Coin has experienced a price increase of 2% in the last 24 hours.
The price increase of Pepe Coin is likely due to the overall positive sentiment in the cryptocurrency market, as evidenced by the performance of Shiba Inu and other cryptocurrencies.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Shiba Inu has experienced a price increase of 3% in the last 24 hours. Large holders have acquired over $100 million worth of SHIB tokens in the past week. The SHIB burn rate has increased by 730% in the last 24 hours.
The price increase of Shiba Inu is likely due to the large acquisition of SHIB tokens by large holders and the significant increase in the SHIB burn rate, which reduces the supply of SHIB tokens in circulation and can lead to a price increase.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100