CandleFocus SHIB Burns Skyrocket 49,464%: Here’s What’s Happening
2024-11-23
Author: Content Editor
The popular meme-inspired cryptocurrency, Shiba Inu (SHIB), has experienced a significant increase in its burn rate, with a staggering 49,646% rise in the past day. This increase follows a rapid price rise of over 10% within two hours. The burn rate refers to the amount of SHIB coins being transferred to unspendable blockchain addresses. However, the weekly burn rate has dropped by 69.49%. The lead developer of SHIB, Shytoshi Kusama, has addressed FUD (fear, uncertainty, doubt) makers on Twitter, expressing their confidence in the project and reminding the community of its status as the number one token on the Ethereum chain. The release of the highly anticipated TREAT token has not yet occurred.
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