'Dogecoin Killer' Shiba Inu Records 2,330% Monthly Burn Rate, 1 Trillion SHIB Moved In Whale Transactions
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has experienced significant whale transactions, including a transfer of 1 trillion SHIB tokens, and a 2,330% increase in its monthly burn rate. Notable transactions include transfers to and from Robinhood, Cumberland, and Kucoin. Despite a slight weekly price decrease, SHIB has been profitable for 62% of its holders and has seen a recent 2% price increase.
April 03, 2024 | 2:35 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Shiba Inu (SHIB) sees significant whale transactions and a 2,330% increase in monthly burn rate, indicating potential for major price movements.
The substantial whale transactions and the dramatic increase in the burn rate of SHIB tokens suggest a heightened interest and potential scarcity that could drive up the price. The involvement of major platforms like Robinhood and the profitability for a majority of SHIB holders further support the potential for a positive short-term price impact.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100