Shiba Inu Token Burn Surpasses 61M As Whales Multiply Net-Flow By Over 275% In 7 Days
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) has seen a 65% increase in its burn rate, with over 61 million of its tokens burned in the last 24 hours. This comes as Shiba Inu whales continue to accumulate SHIB tokens, indicating their growing interest in the digital asset at its current price. The net flow of tokens held by large holders has surged by 275% over the past week. Shiba Inu’s Shibarium announced a new partnership with the Italy-based fast food franchise, Welly.
September 14, 2023 | 7:44 am
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Shiba Inu's burn rate has increased by 65% with 61 million tokens burned in the last 24 hours. The net flow of tokens held by large holders has surged by 275% over the past week, indicating a strong buying bias in the market.
The increase in Shiba Inu's burn rate and the surge in net flow of tokens held by large holders indicate a strong buying bias in the market. This could potentially drive the price of SHIB up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100