Dogecoin Killer Shiba Inu Burn Rate Rallies 18% Alongside 4.25 Trillion Shuffle In Whale Activity
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) saw significant whale activity with a transfer of 4.25 trillion tokens worth $44.9 million and a separate receipt of 417 billion tokens worth $4.4 million by a new address. The SHIB community burned 13.14 million coins, increasing the burn rate by 17.6%. Despite these activities, SHIB's price dropped by 1.1% in the last 24 hours, with a 27.5% gain over the past 30 days. Trading volume decreased by 12.7%. Marketing lead Lucie hinted at future developments for SHIB, and SHIB Bezos tweeted about potential revenue generation and SHIB burning through Shibarium.
December 29, 2023 | 3:24 pm
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NEUTRAL IMPACT
Shiba Inu (SHIB) experienced significant whale transactions and an increased burn rate, but the price saw a slight decline. Marketing initiatives and the Shibarium platform may influence future price movements.
While the whale activity and increased burn rate indicate strong investor interest and community engagement, the slight price decline suggests a neutral short-term impact. The anticipation of future developments with Shibarium and marketing efforts could provide positive momentum, but the immediate effect is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100