SHIB Burn Skyrockets Over 600% In A Day

The Shiba Inu is leading the Meme Coins Rally, which has reached a Burn Rate of 1300%.

The SHIB burn website shows that the Shiba Inu burn rate has gone up by more than 1,390% in the last 24 hours. The huge burn rate has to do with both the return of whales and the launch of the Layer-2 blockchain system Shibarium, which is expected to happen early this year.

Recent Released: Crypto Market News Update 09th Jan 2023 – The Crypto Market Is Rising Today

The Shibburn website says that in the last 24 hours, a total of 410,384,426 SHIB tokens have been burned. This number is 1395.89% more than what was burned the day before. There have been 4 big deals that have caused the number to go up.

Shiba Inu Coin News: Since the burn, the price of Shiba Inu has gone up by 4.44 percent in the last 24 hours. The price of one SHIB token is 0.000008793 USD.

SHIB Burn Keeps Going

Since last month, the rate at which SHIBs are burned has gone up. During a bear market, whales sold off their Shiba Inu tokens. But it looks like they are coming back now that the market is getting better.

Since there will be a lot less tokens in circulation after the massive burn, the prices will go up. In order to make less of the meme cryptocurrency, one transaction shows that 14,999,999 SHIB tokens were burned.

SHIB Army thinks that Shibarium will come out in the first few months of this year based on clues from core developer Shytoshi Kusama and the official Twitter account for the Shiba Inu ecosystem.

See also  SpaceX Night splashdown is NASA's First since 1968

Dogecoin goes up more than 4%

Dogecoin, the other meme-based cryptocurrency, has jumped 4.66% in the last 24 hours. The price of a DOGE token is 0.07506 USD. Compared to the day before, the number of trades is up by 139.31%.

In the last 24 hours, BONK, the first meme cryptocurrency on the Solana blockchain, has dropped by 18.28%. The number of trades is down by 6.5%. In the past week, the launch of BONK was what caused the price of Solana tokens to go up.

Source: Google Trend

By Vil Joe

A writer and editor based out of San Francisco, Vil has worked for The Wirecutter, PCWorld, MaximumPC and TechHive. Her work has also appeared on InfoWorld, MacWorld, Details, Apartment Therapy and Broke-Ass Stuart. In her spare time, she takes too many pictures of her cats, watches too much CSI and obsesses over her bullet journal.

Leave a Reply

Your email address will not be published. Required fields are marked *