'Dogecoin Killer' Shiba Inu Burn Rate Skyrockets 28,000% As 6M SHIB Sent To Dead Wallet
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) experienced a dramatic 28,350% increase in its burn rate with over 6.3 million SHIB tokens sent to a dead wallet. This follows a partnership with D3 Global to acquire the .shib domain, aiming to boost global adoption. SHIB's price rose 1.76% to $0.000010.
December 21, 2023 | 3:59 am
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POSITIVE IMPACT
Shiba Inu's burn rate surge and partnership with D3 Global for the .shib domain could indicate a positive outlook, potentially increasing demand and reducing supply.
The significant burn of SHIB tokens and the partnership for a dedicated domain are likely to be perceived positively by investors, as they can lead to increased scarcity and improved utility, which may drive up the price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100