Zero SHIB Burn Rate in 24 Hours: What It Means for Shiba Inu Price?

Quick Summary:

The second biggest meme coin, Shiba Inu, has been depending on the SHIB burn mechanism in hopes of increasing its scarcity and providing more stability in the price.

Interestingly, the glitch can happen, as the burning mechanism has been running automatically since the beginning of the year.

With that, once a certain amount of transactions are conducted on Shibarium, with the earned fees (BONE), those fees will get converted into SHIB and burned later.

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Article Details

Author / Journalist: Pooja Khardia

Category: Crypto

Markets: India

Topics: Shib burn rate 24/7 Cryptocurrency News Shiba Inu Price SHIB Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-24 @ 13:44:08 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 489 words

Reading Time: 3 minutes read

Sentences: 42 lines

Sentence Length: 12 words per sentence (average)

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

Copyright Owner: © CoinGape

News ID: 23225093

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

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