Is A Shiba Inu Comeback Imminent? 72,453% Surge In Burn Rate Could Send Price Flying

Quick Summary:

A major thing that is happening for Shiba Inu is the rapid acceleration in the burn rate that has sent more SHIB tokens to the burn address.

In addition to the surges that have been recorded this week, there has been an over 72,000% increase in the burn rate in a bare 24-hour period, marking a turn in the sentiment for investors.

With Shiba Inu having a circulating supply of over 500 trillion tokens, it has become imperative for investors to reduce the supply in order to help drive up the value.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: Hungary

Topics: Shiba Inu Shib Shiba Inu price Shiba Inu news SHIB news SHIB price Shiba Inu burn SHIBUSD SHIBUSDT SHIB burn

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-04 @ 10:00:24 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 464 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21480113

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About Bitcoinist

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Official Website: bitcoinist.com

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Year Established: 2014

Headquarters: Hungary

News Last Updated: 10 hours ago

Coverage Areas: Hungary

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