Shiba Inu Coin News: Shiba Inu (SHIB), the second largest meme cryptocurrency in the world has almost half of its supply left and is quickly running out. Shiba Inu’s market position should improve as the supply of tokens steadily decreases and becomes less easy to buy.

However, according to a recent tweet from Whale Alert, an unnamed whale transferred nearly 184 billion Shiba Inu coins during the recent price dump.

advertisement

Shibu burns down at 107%

According to data from ShibBurn, the burn rate of Shiba Inu coins has increased by 107% in the last 24 hours. Over 4.1 million Shiba Inu burns in the past 24 hours. Despite the massive transfer of SHIB between whale wallets, the Shiba Inu price has fallen due to increased volatility in the crypto market.

The most recent announcement can be linked to SHIB transfers between portfolios.

Currently, the price of Shiba Inu coins is moving in a sideways short-term trend. The price of this meme cryptocurrency coin has been fluctuating within a narrow range for the past month. However, it fluctuates between $0.00000964 and $0.0000084. In addition, the SHIB price showed a series of green and red candles, representing the hesitation of market participants.

Since the demise of FTX early last month, SHIB has been unable to stay above any of its significant moving averages, with the 50DMA serving as particularly powerful resistance in the early days of December. The fact that all of SHIB’s significant moving averages are still pointing downwards indicates that bearish momentum is still strong.

Shiba Inu Live Award

According to the coinmarketcap data, the live Shiba Inu price is $0.000008872 USD and the 24-hour trading volume is $122,912,574 USD. The SHIB price is down 3.17% in the last 24 hours, with a live market cap of $4,869,876,047 USD. There are a total of 549,063,278,876,302 SHIB coins in circulation. There is insufficient supply.

CoinGape consists of an experienced team of native content writers and editors who work around the clock to cover global news and present news as fact rather than opinion. CoinGape writers and reporters contributed to this article.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.



This post SHIB Burn Rate skyrockets by 107%

was published first on https://coingape.com/shiba-inu-coin-shib-burn-rate-skyrockets-by-107/

Author

Write A Comment