Amid dynamic market fluctuations, Shiba Inu (SHIB) has attracted attention with a significant increase in activity from major shareholders. Latest data points to a staggering 1,079% increase in net flows among major SHIB holders, indicating a notable accumulation trend in turbulent times for the cryptocurrency market. Meanwhile, the Shiba Inu’s burn rate increased. Here are the details…
SHIB whales have increased
Shiba Inu has experienced a staggering 1,079% increase in net flows to major shareholders in the last 24 hours. This increase is a clear indication of significant token movement among whales in the SHIB ecosystem. Large Holder Fund Flow, a critical metric, provides insight into token movement among large holders, and the recent rise indicates a strong accumulation phase amid market uncertainties.
The increase in net flows coincides with recent price fluctuations in the broader cryptocurrency markets. Despite the turbulence, SHIB’s whaling activity has increased markedly, indicating strong interest in accumulating SHIB tokens even amid market uncertainty. The market’s reaction to this increase was reflected in SHIB’s price dynamics. The token witnessed a sharp rise and reached an intraday high of $0.000011 on December 16. Currently trading above $0.00001, bullish sentiments are clearly evident as the community attempts to regain lost ground.
Comment from Shytoshi Kusama
Shytoshi Kusama, lead developer of Shiba Inu, recently shared important details about the impending fire and the future of the SHIB ecosystem. Kusama highlighted the burning of billions of SHIB tokens currently underway and discussed upcoming developments that will enable SHIB to transition from its meme-centric beginnings to a global standard in cryptocurrency and blockchain.
Kusama announced that the incineration of billions of SHIBs is underway and preparations are ongoing. He emphasized the need for global adoption to have a significant impact on SHIB’s price and shared a vision for the token’s permanence worldwide. The lead developer proposed a shift from memes and lore to establish Shiba Inu on a global standard that supports the technology being built. Kusama signaled a partnership that will play a pivotal role in achieving the goals of this groundbreaking experiment known as Shiba Inu.
The amount of fuel is flying
The SHIB community’s recent announcement to burn billions of tokens has positively impacted the price of SHIB, indicating increased interest in the token. The community is actively involved in the planning and execution of burns, and a significant increase in the rate of burns has been observed in the last 24 hours. Shibburn reported a significant increase in SHIB burns, with more than 8.6 billion tokens burned in the last 24 hours. The Shiba Inu team’s proactive approach to burning tokens on Shibarium triggered a significant increase in the SHIB burn rate, reaching an impressive 727,870%.
The latest increase in SHIB burns includes the burning of 8,620,452,653 SHIB tokens in the last 24 hours and a total of 8,655,012,764 SHIB tokens in the last seven days. The Shiba Inu team’s commitment to burning tokens on Shibarium has contributed to the overall positive sentiment surrounding SHIB. The price of the Shiba Inu reacted positively to the big drop and is up 12% in the last 24 hours. Analysts suggest that SHIB could see further gains and reach $0.0000140 if it maintains critical support levels.
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