Shiba Inu The burning of coins continues unabated. In this context, according to the data announced by Shibbrun, today the burn rate of the meme coin has increased to over 27000%, attracting significant attention among global crypto market enthusiasts.
In addition, meme coin it also appears to have recorded a significant accumulation of whales. Simultaneously, market charts of Shiba Inu showed notable gains, compounding bullish sentiment for the token.
SHIB Burning and Whale Activity Report
Koinfinans.com As we reported, according to data released by Shibburn, the meme coin community recorded a phenomenal 27510% increase in burn rate in the last 24 hours, with 9.35 billion SHIB burned. Additionally, the total number of coins burned from the token’s initial offering is currently estimated at 410.70 trillion. this too crypto- fueling additional inferences among market traders.
Meanwhile, in the midst of the aforementioned burn narrative, the token noted a critical burn, shifting 9.35 billion SHIB to an unusable wallet. This huge transfer appears to be largely responsible for the massive rise in the SHIB burn rate and is attracting great attention globally.
On the other hand, a huge accumulation of whales is also a global crypto- It seems to have attracted the attention of the market. According to on-chain information provided by Lookonchain, a new whale has been recorded accumulating 1.44 trillion SHIB from Binance and Gate.
Regarding this, the address 0xF633Cd…3493Bbac was observed to accumulate the previously mentioned amount in a series of five transactions. At the same time, the number of coins withdrawn at the time of writing totaled $13.36 million.
At the time of writing, the Shiba Inu price has jumped 1.38% in the last 24 hours. It currently stands at $0.000009516. Additionally, the market cap of meme coin showed a jump of 1.27%, accompanied by a trading volume increase of 65.25%.
Relatedly, market sentiments orbiting the Shiba Inu are getting exciting. The increase in burn rate and the additional increase in on-chain activity seem to support bullish sentiments on the token.