"Dogecoin Killer" Shiba Inu Burn Rate Spikes 2,730%, 3 Trillion Tokens Moved: 'Manifesting SHIB 1 Cent Soon,' Says ShibArmy
Portfolio Pulse from Khyathi Dalal
The Shiba Inu (SHIB) ecosystem has seen a 2,730% increase in its burn rate, with 3 trillion tokens moved to entities like Coinbase, Gate.io, Robinhood, and private wallets. The integration of Shibarium by Tangem and the launch of SHEboshi NFTs on Ethereum are notable developments. Daily transactions have surged to 4.21 million, and wallet addresses have exceeded 1 million. The introduction of Shiba Inu trading in UpDown Options on Crypto.com and the potential utility and burning capabilities of Shibarium are highlighted as key factors for SHIB's future growth.
February 21, 2024 | 11:47 pm
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POSITIVE IMPACT
Shiba Inu (SHIB) has experienced a significant increase in burn rate and token movement, alongside the integration of Shibarium and the launch of SHEboshi NFTs. These developments, coupled with the surge in daily transactions and wallet addresses, indicate a strong potential for price appreciation.
The significant increase in SHIB's burn rate and the introduction of new features and partnerships, such as Shibarium integration and SHEboshi NFTs, are likely to enhance its utility and demand. The surge in daily transactions and wallet addresses further supports the potential for SHIB's price appreciation in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100