'Dogecoin Killer' Shiba Inu Burn Rate Skyrockets 2,212%, As Robinhood Wallet Moves 3 Trillion SHIB In A Single Transaction
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) experienced a significant increase in burn rate by 2,212%, with a notable transaction burning 1.8 million SHIB. Additionally, 3 trillion SHIB tokens were moved in a transaction on Robinhood, likely for security and asset management purposes. Tangem wallet now supports SHIB payments, and SHIB's price rose by 3.2% over the past 24 hours, with a 24.7% increase over the week. The trading volume for SHIB surged by 32%, and its Q1 performance showed a 416% increase in trading volume and a 178% rise in trader numbers. Shiba Inu also announced a $12 million capital raise for its Layer 3 network enhancement.
April 24, 2024 | 12:43 pm
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POSITIVE IMPACT
Shiba Inu (SHIB) sees a 2,212% burn rate increase and a significant transaction on Robinhood, alongside a 3.2% price increase and a 416% trading volume surge in Q1.
The significant increase in SHIB's burn rate and the large transaction on Robinhood indicate strong investor interest and potential for further price increases. The support from Tangem wallet and the impressive Q1 performance, including a substantial capital raise, further bolster SHIB's short-term prospects.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100