'Dogecoin Killer' Shiba Inu's Burn Rate And Whale Transactions Are Surging: What Is Going On?
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has seen an 8% price increase over the past week, driven by a significant surge in burn rates and whale transactions. The burn rate increased by 7,168%, with major transactions burning millions of SHIB coins. Marketing lead Lucie hinted at a new project, fueling speculation. Additionally, Robinhood's SHIB holdings have increased, and large transaction volumes have risen significantly.
September 24, 2024 | 5:33 pm
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Shiba Inu's price has increased by 8% due to a massive surge in burn rates and whale transactions. The burn rate spiked by 7,168%, and Robinhood's SHIB holdings have grown significantly. Marketing lead Lucie's hints at a new project have added to the optimism.
The significant increase in burn rates and whale transactions indicates strong market activity and interest in Shiba Inu. The increase in Robinhood's SHIB holdings suggests institutional interest, which is a positive signal for investors. Additionally, the marketing lead's hints at a new project could drive further speculation and investment.
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IMPORTANCE 80
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