Shiba Inu Burn Rate Spikes 100% In A Single Day As Shibarium Blocks Surpasses 1M Milestone
Portfolio Pulse from Mehab Qureshi
The burn rate of Shiba Inu (CRYPTO: SHIB) has surged by 100% over the past 24 hours, permanently removing 44 million SHIB tokens from circulation. This coincides with a significant milestone achieved by SHIB’s newly launched layer-2 blockchain solution, Shibarium, which has reached one million blocks. The Shiba Inu development team is part of the Ethereum (CRYPTO: ETH) network.
October 10, 2023 | 8:53 am
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NEUTRAL IMPACT
The Shiba Inu development team is part of the Ethereum network, which could potentially impact Ethereum's price.
The Shiba Inu development team is part of the Ethereum network. While the news is primarily about Shiba Inu, it indirectly involves Ethereum as well, which could potentially impact its price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The burn rate of Shiba Inu has surged by 100%, removing 44 million SHIB tokens from circulation. This could potentially impact Shiba Inu's price.
The burn rate of Shiba Inu has surged by 100%, removing 44 million SHIB tokens from circulation. This increases the scarcity of SHIB tokens, which could potentially drive up its price.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100