SHIB Burn Rate Surge 450%, Sparks Optimism Among Investors
- PHPzOriginal
- 2024-07-21 18:36:321061browse
Shiba Inu (SHIB), the second-largest memecoin by market cap, has received a lot of attention from investors and traders as it begins its own
Shiba Inu (SHIB) clocked a 454.08% surge in burn rate on Friday, as 48,604,444 tokens were burned. This brought the total SHIB burned in the last 24 hours to 48,604,444.
This burn rate surge played a role in SHIB’s price trend, with the token trading at around $0.00001796 at the time of this report, up 3.86% in the last 24 hours.
The price is up 4.68% in the last seven days. SHIB’s burn rate has seen a surge of over 300% recently.
Shiba Inu Memecoin Floor Price Surges 45% in 24 Hours, Sparks Hope for Recovery
SHIB's market cap is currently around $10.59 billion. Meanwhile, the memecoin's price seems to be largely unbothered by the massive crash that affected Windows-based computers and disabled some businesses and public services.
In response, the Shiba Inu team said, “Good thing Shibarium never skips a beat!” This statement highlights Shibarium's durability and dependability in the face of significant technological changes.
Moreover, as covered by CNF, Shibarium clocked a 450% surge in new users and a 23% increase in active accounts in the last 24 hours.
Furthermore, large transactions involving at least $100,000 in SHIB surged by over 120%, showing increased investor activity and interest.
Meanwhile, observing SHIB's existing price patterns, crypto investor Elja predicts a strong rally for the memecoin.
Elja shared a chart showing SHIB in a historically comparable trend that could recreate the bullish rally of March 2024, potentially pushing the token's price to $0.000080.
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