Shiba Inu leads Meme Coins Rally; The SHIB Burn Rate Hits 1300%
Shiba Inu News – The Shiba Inu’s burn rate has increased by over 1390% within the last 24 hours. This is according to data from the SHIB Burn website. The massive burn rate can be attributed to the Shibarium Layer-2 blockchain system’s expected debut early in the year, and the return of whales.
According to data from Shibburn website, a total number of 410,384,426 SHIB tokens were burned in the last 24 hours. This is a 1395.89% increase over the previous day’s burning rate. The number has increased due to 4 major transactions.
The Shiba Inu’s strength has increased by 4.44% within 24 hours of the burn. Each SHIB token has a value of 0.000008793 US Dollars. Source: coinmarketcap
SHIB Burn continues
The SHIB burn rate has increased over the past month. During the bear markets, the whales were selling Shiba Inu tokens. They are now returning to the market as the market is improving.
As there will be fewer tokens in circulation, the massive burn will cause a spike in prices. One transaction shows a burn of 14,999999 SHIB tokens in an attempt to reduce the supply of meme crypto.
SHIB Army has predicted the debut Shibarium’s arrival in the early months of this year, based on clues from Shytoshi Kusama, core developer of Shiba Inu, and the official Twitter account of the Shiba Inu ecosystem.
Dogecoin jumps over 4%
Dogecoin, another meme crypto, is experiencing a huge jump of 4.66% over the past 24 hours. Each DOGE token costs 0.07506 US dollars. Trading volume has increased by 139.31% compared to the previous days.
BONK, the first crypto-meme on Solana blockchain, has fallen by 18.28% over the past 24 hours. Trading volume is down by 6.55%. BONK’s launch was responsible for the increase in Solana token price over the past week.
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