'Dogecoin Killer' Shiba Inu's Burn Rate Spikes Nearly 250% As Whales Show Interest In The Memecoin
Portfolio Pulse from Aniket Verma
Shiba Inu (SHIB) saw a 246% increase in its burn rate, with 8.2 million tokens removed from circulation. This spike coincides with the listing of SHIB perpetual futures on Coinbase International Exchange and Coinbase Advanced.
May 31, 2024 | 3:14 am
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Coinbase has listed Shiba Inu perpetual futures on its International Exchange and Coinbase Advanced, which has led to a significant increase in SHIB's burn rate.
The listing of SHIB perpetual futures on Coinbase platforms has directly influenced the burn rate of SHIB, indicating increased trading activity and interest. This is likely to positively impact Coinbase's trading volumes and revenue.
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