Shiba Inu Burn Rate Spikes 13000% Amid Pepe Coin Frenzy

Shina Inu Coin News: Shiba Inu (SHIB), the second largest meme coin price is trading under increased selling over the past month. As Shiba Inu price continued to decline, Pepe Coin, a new trending meme crypto has gained all of the attention. However, it seems like SHIB might be doing a comeback ahead as SHIBarmy burned more than a billion Shiba Inu Coin in the last 24 hours.

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Can SHIB Make A Comeback Here?

According to the Shibburn data, 1.69 billion SHIB coins have been sent to a dead wallet in multiple transactions over the past 24 hours. SHIBburn rate has spiked by 13150% after the recent burn. It should be noted that this spike has come after a long dry spell not burning many Shiba Inu Coins.

Earlier, Coingape reported that the SHIB burn rate is plummeting over time depicting users losing interest in the second largest meme crypto.

Shiba Inu price is down by over 18% in the last 30 days. SHIB is trading at an average price of $0.000009, at the press time. Its 24 hour trading is up by 33% to stand at around $185 million. However, Shiba Inu is still the second largest meme crypto with a market cap of $5.16 billion.

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However, Pepe Coin, a new meme coin in the trend has taken over the crypto market with force. PEPE price has surged by 3400% over the last 30 days.

PEPE price registered a drop of 13% over the last 24 hours. It is trading at an average price of $0.000002, at the press time. Its 24 hour trading volume is up by 21% to stand at $1.13 billion.