'Dogecoin Killer' Shiba Inu Burn Rate Surges 2,500%: Analyst Says Meme Coin Set For Price Change After Spot Bitcoin ETF Announcement
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) burn rate increased by 2500%, with 53.29 million tokens removed from circulation. This follows a year of active community participation in burning SHIB tokens, totaling over 76 billion. The Shiba Inu marketing lead announced incentives for accruing SHIB and LEASH tokens, with 90 million SHIB and LEASH tokens to be distributed in the next four months.
January 08, 2024 | 4:11 am
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POSITIVE IMPACT
Shiba Inu's token burn rate surge and upcoming distribution of SHIB and LEASH tokens could create a positive sentiment among investors, potentially leading to a short-term price increase.
The significant increase in the burn rate of SHIB tokens and the announcement of incentives to earn SHIB and LEASH tokens are likely to create a bullish sentiment among investors and traders. This could lead to increased demand and a potential short-term price increase for SHIB.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100