Shiba Inu, which attracts a lot of attention in Turkey, received the title of “Crypto Currency of the Day” in LunarCrush. Thus, according to some, it proved its worth once again. Here are the details…
Popular altcoin SHIB becomes “cryptocurrency of the day”
Renowned financial social media analytics platform LunarCrush has awarded the Shiba Inu the prestigious “Coin of the Day” title. This title comes with a number of impressive metrics that show SHIB’s social effectiveness and performance in the market. In a recent assessment by LunarCrush, SHIB achieved an outstanding Galaxy Score of 45 percent. The comprehensive assessment took into account factors such as the token’s price score, social impact score over the last 24 hours, average sentiment, and correlation rank.
In addition, the Shiba Inu was ranked 434th out of 4,389 mainstream assets evaluated in LunarCrush’s AltRank in the last 24 hours. This remarkable achievement underscores SHIB’s overall strength and impact in the wider cryptocurrency ecosystem. However, the most notable aspect of the Shiba Inu’s recent success lies in its social inclusion. SHIB witnessed a total of 146.08 million social interactions in 24 hours. The token also received an astonishing 11.06k social mentions during this time. This level of social interaction is attributed to the excitement created by token burns. In addition, the impact of the achievements of the Shibarium Beta network Puppynet is undeniable.
Shiba Inu’s lead developer, Shytoshi Kusama, welcomed this development. He took to Twitter and shared the news with a simple but effective headline, simply saying “WOOF”. cryptocoin.com As we reported, LunarCrush has added support for Shiba Inu to its trading platform LunarCrush Trade.
1.74 billion SHIB burned
Meanwhile, Shibburn.com revealed that the Shiba Inu community has burned 1.74 billion SHIB in 20 separate transactions over the past seven days. The latest figure represents a notable 69.48 percent decrease in the Shiba Inu’s incineration rate from the previous week, when a total of 3.98 billion SHIB were destroyed in nineteen separate transactions. Blaze Token was one of the accounts that made the most burns. Blaze removed 1.69 billion SHIB from circulation in a single transaction on May 8. On the same date, SHIB Super Store removed 10.45 million SHIB from circulation.
A mysterious wallet transferred 1.42 million SHIB to the burning address about a day ago. The wallet, however, still holds $2.96 million worth of SHIB. Despite the burning activity witnessed last week, the price of the Shiba Inu is struggling to recover, having dropped 6.6 percent over the past seven days.
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