Shiba Inu

<ul><li>The burn rate of SHIB has increased by almost 2,400% in the last day.</li><li>SHIB has become the most traded token among the top Ethereum (ETH) whales.</li></ul><a href="https://thenewscrypto.com/tag/shiba-inu/" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB), the second biggest meme currency, rose in value by 6% during the last day. After the recent bank failures in the United States, the positive momentum indicates a rebound. At press time, Shiba Inu was worth $0.00001170, according to statistics from <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CMC</a>. The market cap of SHIB is around $6.4 billion.In addition, SHIB fell to $0.0000097 on March 10, the same day when the total value of all cryptocurrencies on the market fell by about $90 billion in less than 24 hours, to $912 billion. With the failure of Silvergate Bank on March 3, the asset began a downward trend.<h3 id="most-traded-token-among-eth-whales">Most Traded Token Among ETH Whales</h3>Recently, the burn rate of Shiba Inu increased exponentially. Particularly it has increased by almost 2,400% in the last day, demonstrating its deflationary nature to the community.It’s worth noting that, according to Whale Stats, SHIB has also become the most traded token among the top <a href="https://thenewscrypto.com/tag/ethereum-eth/" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) whales. According to the numbers, the top 100 token holders together own Shiba Inu valued at almost $34 million.If all this wasn’t enough to get people excited, SHIB was also present at the recent <a href="https://schedule.sxsw.com/2023/films/2079091" rel="noopener noreferrer nofollow">SXSW event</a>. During the event, attendees got a firsthand look at SHIB’s Metaverse, which was the event’s main focus. Almost immediately after Shibarium’s release, market sentiment shifted, becoming positive, and turning the majority of cryptocurrency charts green.

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