Popular and second largest meme coin in the crypto arena Shiba Inuhas experienced an impressive increase in its burn rate in the past day. In this context, he managed to attract all the attention again.
Amid the aforementioned burn, a significant whale transfer has also garnered significant attention in the crypto market. The whale transfer in particular reshuffled around 4 trillion SHIB between unknown wallets, sparking further speculation for the token.
Shiba Inu Burning Is Rapidly Increasing Among Whale Activities!
According to data released by Shibburn, the community appears to have burned 53.13 million SHIB in the last 24 hours. Moreover, according to the data, the burn rate recorded a massive increase of 5043.37%, increasing optimism for the token.
At the same time, in line with the increase in burn rate today, the token’s weekly burn rate also recorded an increase of 98.66%.
Meanwhile, an important whale transaction took place in Shiba Inu’s orbit as the token’s burn rate recorded its rise chronicle. Whale Alert, a platform that offers on-chain metrics, announced data showing 4.25 trillion SHIB transfers yesterday (December 24). According to the data, an unknown wallet, 0x3ce6bed2…87d896c59f, shifted the predicted amount to another unknown wallet, 0x9c570088…a22fd8b51b.
Interestingly, 4.25 trillion meme coinThe increase in the SHIB burn rate, accompanied by the whale transfer, coincided with a price drop recorded by the token today.
SHIB Price Drops
At the time of writing, the Shiba Inu price has decreased marginally by 0.97%. It is currently trading at $0.00001077. In addition, the token’s 24-hour trading volume also recorded a significant decrease of 22.92%. It is currently valued at $199.35 million.
Notably, the market cap of the meme coin also decreased marginally by 0.65%, in line with the token’s price decline. Market charts indicate a downward swing amidst an increase in the burn rate.