'Dogecoin Killer' Burning Spree Skyrockets 161,500% — 8B SHIB Permanently Removed From Circulation In Single Day
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) saw a significant burn rate increase with 8.53 billion SHIB, worth over $90,000, removed from circulation, marking a 161,500% surge in 24 hours. The lead developer hinted at an upcoming announcement. Additionally, SHIB partnered with D3 Global to secure the .shib domain, aiming to enhance Web3 interoperability within its ecosystem.
December 22, 2023 | 4:59 am
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POSITIVE IMPACT
Shiba Inu's significant token burn and upcoming announcement by the lead developer, coupled with the partnership with D3 Global for the .shib domain, could create positive sentiment among investors and potentially increase the price in the short term.
The massive increase in SHIB's burn rate and the strategic partnership for the .shib domain are likely to be perceived positively by investors, as they indicate a commitment to reducing supply and expanding utility, which can drive demand and potentially increase SHIB's price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100