Shiba Inu Burn Rate Soars 83000% As Whale Shifts 4 Tln SHIB
Shiba Inu Burn Rate: One of the most popular meme coins, the Shiba Inu cryptocurrency, captivated significant attention throughout the broader crypto market today. With the Shiba community witnessing a colossal surge in the SHIB burn rate, a whale transaction detected also appears to have stirred up speculation among crypto market enthusiasts.
Furthermore, with the SHIB tokenomics witnessing a gust of developments, the token’s price also appears to have surged phenomenally. Meanwhile, the price also ditched one zero from its value, igniting interest among crypto traders and investors.
SHIB Burn Rate Surges Amid Whale Activity
The Shiba Inu burn rate over the last 24 hours catapulted a whopping 82896%, evoking bullish market sentiments among crypto market fanatics. Moreover, the token noted 23 million SHIB coins burnt at the time of writing. In the interim, the community marked a total of 410.67 trillion coins burnt from the initial supply.
What’s even more intriguing is Whale Alert, a platform providing on-chain data, recently revealed a massive whale transaction amid the burning of coins. Concerning the data, an unknown wallet, 0xda2d9398…95bbe536f9, transferred 4.23 trillion SHIB to another wallet, 0x824ca70d…d5d9d066cd. The coins transferred amounted to $42.21 million as of today, December 9.
The colossal whale activity amid the meteoric burn rate appears to have triggered an immense bullish market sentiment for the SHIB token. Furthermore, it also seems like the token is eyed by many smart money wallets, aligning with its price pump.
Also read: Altcoin Market Rally: Polygon (MATIC) and Polkadot (DOT) Join the Party
Shiba Inu Price Maintains Price Rally.
The self-proclaimed Dogecoin killer, Shiba Inu’s price noted a jump of 3.02%, reaching $0.00001033 at the time of writing. Besides, the coin also marked a substantial increase of 23.12% during the past seven days, accompanied by a monthly pump of 19.91%.
Moreover, as reported by CoinGape media, the token also shredded a zero from its value recently. Although the coin’s price underwent volatile trading in recent weeks, the SHIB cryptocurrency appears to be portraying a promising outlook in the near future.
Also read: Crypto Prices Today: Market Advances As BTC, Pepe Coin, Cardano Fuel Gains
- Bitcoin ETFs Record $2.2B Weekly Inflows as BTC Price Surges Past $120K
- Nomura Eyes to Ripple Dominance in Crypto Trading in Japan as Demand Rises
- Sharps Technology Plans $100M Buyback to Boost Solana Treasury as SSK ETF Hits Record $382M AUM
- Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?
- Cardano Gets 100 Million User Exposure With Brave Integration, Whales Scoop 70M ADA
- Bitcoin Price Hits $120K, Is Citigroup’s Bold Q4 Prediction in Motion?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
