'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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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.
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