'Dogecoin Killer' Shiba Inu Burns 10B SHIB In January: 'Significant Partnerships In The Works'
Portfolio Pulse from Khyathi Dalal
Shiba Inu (CRYPTO: SHIB) burned nearly 10 billion tokens in January, with its marketing lead expressing optimism about Shibarium's progress and potential significant partnerships. The burn rate in the past 24 hours was 78%, with the total burned tokens nearing half of Shiba Inu's maximum supply. Shibburn data revealed 9.94 billion SHIB were burned in January across 269 transactions. Lucie's statement about Shibarium attracting strategic partnerships and the recent whale transfers involving 1.2 trillion tokens suggest potential liquidity movements and positive fundamentals for SHIB, BONE, and LEASH.
February 01, 2024 | 8:20 pm
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Shiba Inu burned nearly 10 billion tokens in January, indicating a strong commitment to reducing supply and potentially increasing the token's value. Significant partnerships and strategic moves, such as whale transfers, suggest positive momentum for SHIB.
The burning of nearly 10 billion SHIB tokens, coupled with the anticipation of significant partnerships and strategic whale transfers, suggests a concerted effort to reduce supply and enhance the token's value. The marketing lead's optimism and the potential for strategic partnerships could drive positive sentiment and demand for SHIB, potentially leading to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100