Shiba

Burn

Pepe Coin

Shiba Inu

Shiba Inu, one of the most popular meme coins within the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> realm, recently gained notable traction as it recorded a colossal surge in its burn rate over the past day. Moreover, the rise in SHIB burn rate seems to have curated a torrent of speculative buzz across the broader crypto market on Monday as it came forth amid a price drop witnessed by the token. 
Simultaneously, amid the aforestated saga, a substantial whale transfer also garnered noteworthy attention among crypto market enthusiasts. Notably, the whale transfer reshuffled nearly 4 trillion SHIB between unknown wallets, stirring further speculations for the token. 
<h2 id="shib-burn-skyrockets-amid-whale-activity-report">SHIB Burn Skyrockets Amid Whale Activity: Report</h2> 
According to the data unveiled by <a href="https://www.shibburn.com/" target="_blank" rel="noopener">Shibburn</a>, a platform streamlining SHIB burn metrics, the community seems to have incinerated a whopping 53.13 million SHIB over the past 24 hours. Moreover, in accordance with the data, the burn rate noted a colossal 5043.37% upswing, fueling optimism for the token. 
Simultaneously, aligning with the surge in burn rate today, the token’s weekly burn rate also recorded a 98.66% upsurge. 
Meanwhile, a significant whale transaction orbiting Shiba Inu also occurred as the token recorded its burn rate upswing chronicle. Whale Alert, a platform offering on-chain metrics, unveiled data showcasing the transfer of 4.25 trillion SHIB yesterday, December 24. As per the <a href="https://whale-alert.io/transaction/ethereum/0x81202ef05024a4c33f588cbbe43a1c7d18718df2025f6df4ec5fe11e5e218729" target="_blank" rel="noopener">data</a>, an unknown wallet, 0x3ce6bed2…87d896c59f, shifted the aforestated amount to another unknown wallet, 0x9c570088…a22fd8b51b. 
Intriguingly, the surge in SHIB burn rate, accompanied by the whale transfer of 4.25 trillion coins, coincided with a price drop noted by the token today, stirring a whirlpool of speculations across the crypto horizon. 
Also Read: <a href="https://coingape.com/crypto-prices-today-bitcoin-pepe-coin-fall-as-qnt-advances/" target="_blank" rel="noopener">Crypto Prices Today: Bitcoin, Pepe Coin Fall As QNT Advances</a> 
<h2 id="shiba-inu-price-drops">Shiba Inu Price Drops</h2> 
As of writing, the <a href="https://coingape.com/price/shiba-inu/" target="_blank" rel="noopener">Shiba Inu price</a> showcased a marginal drop of 0.97% and is currently trading at $0.00001077. In addition, the token’s 24-hour trading volume also noted a substantial fall of 22.92%, presently evaluated as $199.35 million. 
Notably, the meme coin’s market cap also portrayed a marginal fall of 0.65%, aligning with the token’s price drop. 
With the market charts portraying a down surge amid a surge in burn rate, market sentiments orbiting the token seem to be tumbling. Remarkably, the fall in SHIB tokenomics also contrasts with its recent whale chronicle. 
Also Read: <a href="https://coingape.com/coinbase-and-top-crypto-companies-increase-us-political-donations/" target="_blank" rel="noopener">Coinbase and Top Crypto Companies Increase US Political Donations</a> 
The post <a href="https://coingape.com/shiba-inu-burn-rate-soars-5000-as-whale-reshuffles-4-tln-shib-whats-happening/">Shiba Inu News: Shiba Inu Burn Rate Soars 5000% As Whale Reshuffles 4 Tln SHIB, What’s Happening?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Shiba Inu News: Shiba Inu Burn Rate Soars 5000% As Whale Reshuffles 4 Tln SHIB, What’s Happening?

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