One of the most popular meme coins Shiba Inu, has gained a lot of attention in the broader crypto market today. With the Shiba community witnessing a massive increase in the SHIB burn rate, a detected whale transaction also appears to have sparked speculation among crypto market enthusiasts.
Moreover, with SHIB tokenomics witnessing a series of developments, the token price also appears to have increased tremendously. Meanwhile, the price also dropped a zero from its value, sparking interest among crypto traders and investors.
SHIB Burn Rate Increases Amid Whale Activities
In the last 24 hours, Shiba Inu’s killing rate has skyrocketed to 82896%. crypto- It has sparked a bullish sentiment among market fanatics. Moreover, the token noted that 23 million SHIB coins had been burned at the time of writing. Meanwhile, the community stated that a total of 410.67 trillion meme coins were burned from the initial offering.
What’s even more interesting is that Whale Alert recently uncovered a large whale transaction during coin burns. According to the data, an unknown wallet with number 0xda2d9398…95bbe536f9 transferred 4.23 trillion SHIB to another wallet with number 0x824ca70d…d5d9d066cd. The transferred coins reached $42.21 million as of today, December 9.
Massive whale activity amidst a meteoric burn rate appears to have triggered tremendous bullish market sentiment for the SHIB token. It also appears that the token is being tracked by many smart money wallets in line with its price rise.
Shiba Inu Price Continues Rally
Koinfinans.com As we reported, the price of the Shiba Inu jumped 3.02%, reaching $0.00001033 at the time of writing. Moreover, meme coin It recorded a significant increase of 23.12% in the last seven days and was accompanied by a monthly increase of 19.91%.
The token recently deleted a zero from its value. Although the price of the coin has fluctuated in recent weeks, SHIB cryptocurrency The unit seems to have a promising outlook in the near future.