‘Dogecoin Killer’ Shiba Inu Burn Rate Explodes 254,078% Higher And One Indicator Shows A 90% Rally Could Be Coming
Posted On November 1, 2024
“Dogecoin Killer” Shiba Inu (CRYPTO: SHIB) has seen a sharp increase in its burn rate, accompanied by a rise in daily transactions.
What Happened: Over the past 24 hours, the Shiba Inu ecosystem recorded a 254,078.1% spike in its burn rate, with 5.6 billion SHIB tokens burned in a single transaction, according to Shibburn.
Around 14 hours ago, the Shiba Inu ecosystem incarcerated 5.6 billion SHIB tokens in one single transaction and around seven hours ago, 25.9 million SHIB coins were burned in one transaction.
A Shiba Inu community account cautioned traders in a post on X that some projects use large burns as promotional tactics to attract the ShibArmy with presales …
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