Shiba Inu Coin News: Shiba Inu’s (SHIB) upcoming Shibarium blockchain has already drawn controversy. It is alleged that the developers of Shiba Inu copied Rinia, which is a different project. The allegations have had a major impact on the recent drop in the Shiba Inu price. Crypto whales have now made their move.
800 billion Shiba Inu not released
According to WhaleAlert data, a crypto whale moved 800 billion Shiba Inu coins from the Shiba Inu strike to an unknown wallet. This means the whale has pulled $8.23 million worth of SHIBs from the program amid speculation that the Shibarium code is being copied.
The price of the Shiba Inu coin has dropped by as much as 10% in the past 24 hours. SHIB is trading at an average price of $0.000010 at the time of going to press. 24-hour trading volume is down 27% to $374 million.
However, Shiba Inu went to take over Tron (TRX) and Litecoin (LTC) in terms of market cap. Shiba Inu has a $6.1 billion market. Read more news about Shiba Inu coins here…
Also Read: Shiba Inu Developer Admits Blunder With Shibarium Beta Chain ID
Bad day for SHIB?
March 16, 2023 looks set to be a bad day for the Shiba Inu community as the burn rate has also registered a mega drop. The SHIB burn rate has dropped by almost 100%. The ShibArmy has shipped approximately 14 million SHIB tokens in the past 24 hours.
SHIB INFORMER states in a statement that the code to be changed is not the program, it is simply the network number that happens to be used on other testnets.
He added that the clash here is simple, someone is using a number (Code) that was free while someone else was thinking the same thing. However, one of the teams has to change the number.
Also Read: XRP Lawyer Wants To Build A Union Against US SEC Enforcement
Ashish believes in decentralization and has a keen interest in the development of Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching a thriller or exercising outside. Reach me [email protected]
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This post Shiba Inu Coin Burn Rate Drops 100%; More than 800 billion SHIB undeported; What is going on?
was published first on https://coingape.com/shiba-inu-coin-burn-rate-drops-by-100-over-800-billion-shib-unstaked/