Shiba Inu Burn Rate Spikes By 650% Amid Massive Price Pump
Shiba Inu (SHIB), the world’s second largest meme crypto is on a massive price surge riding on the upcoming launch of Shibarium and bulk whale buying. These positive updates have led ShibArmy to burn more SHIB tokens in order to decrease its coin circulation in the market.
Shiba Inu price shoots by 20%
As per the data provided by Shibburn, the Shiba Inu Coin burn rate has spiked by a whopping 650% in the last 24 hours. The community has sent 52.2 million SHIB tokens to a dead wallet. However, this cumulative burn was done in just 15 transactions. The current surge in the burn rate has helped the SHIB to maintain the price surge amid the volatile market.
It is important to note that this surge in burn rate has come amid the massive price surge. Shiba Inu Coin price skyrocketed by 20% in the last 24 hours. SHIB is trading at an average price of $0.000012, at the press time.
The current price rally has allowed Shiba Inu Coin to get an edge over Dogecoin. SHIB has printed a price jump of almost 40% over the past 30 days while DOGE price has jumped by 10% in the same period.
SHIB trading vol spikes by 228%
WhaleAlert reported that Shiba Inu Coin has emerged as the most traded token among the top 100 Ethereum (ETH) whales. SHIB flipped CRV in order to gain the top spot. However, SHIB 24 hour trading volume has surged by 228% to stand at $920 million.
However, Shiba Inu has emerged as the largest crypto holding among the top 100 ETH whales. As of now, these whales are now holding $616 million worth of SHIB tokens. This makes the almost 17% of their total holding. As per the data, Shiba Inu Coin made it to the tally of the top 10 tokens purchased by the ETH whales.
- XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy
- FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?
- “Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs
- CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP
- Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
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.
