Shiba Inu 'High Demand' Drove SHIB's Meteoric 46,000,000% Rise, Not Vitalik Buterin's Token Burn, Says Data Tracker
Portfolio Pulse from Mehab Qureshi
Shibburn, a Shiba Inu (CRYPTO: SHIB) data tracker, has clarified that the surge in SHIB's price in May 2021 was due to increasing demand, not Ethereum (CRYPTO: ETH) co-creator Vitalik Buterin's burn of $1.7 billion worth of SHIB tokens. The tokens were gifted to Buterin when SHIB was initially deployed. The price of SHIB has increased five times its initial value since May 6, 2021.
September 08, 2023 | 3:24 am
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NEUTRAL IMPACT
The clarification by Shibburn regarding the surge in SHIB's price does not directly impact Ethereum's price.
The news is about a clarification regarding the surge in SHIB's price, which was initially attributed to Ethereum co-creator Vitalik Buterin's token burn. However, this does not directly impact Ethereum's price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Shibburn's clarification that the surge in SHIB's price was due to high demand, not Buterin's token burn, could potentially impact investor sentiment and SHIB's price.
The news clarifies the reason behind the surge in SHIB's price in May 2021, which was initially attributed to Buterin's token burn. This could potentially impact investor sentiment and SHIB's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100