Shiba Inu Burns 11 Million SHIB, Sparking Price Surge and Investor Interest
- Shiba Inu (SHIB) surged 3% in the early hours of Wednesday.
- Token burn announcement triggered the latest spike in SHIB’s price.
- Shiba Inu burned over 11 million SHIB in the past 24 hours.
Shiba Inu (SHIB), the popular memecoin, experienced a 3% surge in the early hours of Wednesday, prompting speculation among investors and analysts about a potential sustained price rally.
The price surge saw SHIB jump from an opening price of $0.00001774 to $0.00001806, according to TradingView data.
A closer observation revealed that many crypto and memecoin users believe a recent SHIB burn announcement may have triggered or contributed to the noticeable rally in the memecoin’s price. In a recent post on X, Shibburn revealed that Shiba Inu burned over 11 million SHIB in the past 24 hours.
According to Shibburn, the Shiba Inu burn rate skyrocketed over 6,000%, with a single address burning approximately 8.56 million SHIB across multiple transactions. The memecoin project executed the recent burn exercise across ten wallet addresses.
The post Shiba Inu Burns 11 Million SHIB, Sparking Price Surge and Investor Interest appeared first on Coin Edition.
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Shiba Inu Burns 11 Million SHIB, Sparking Price Surge and Investor Interest
- Shiba Inu (SHIB) surged 3% in the early hours of Wednesday.
- Token burn announcement triggered the latest spike in SHIB’s price.
- Shiba Inu burned over 11 million SHIB in the past 24 hours.
Shiba Inu (SHIB), the popular memecoin, experienced a 3% surge in the early hours of Wednesday, prompting speculation among investors and analysts about a potential sustained price rally.
The price surge saw SHIB jump from an opening price of $0.00001774 to $0.00001806, according to TradingView data.
A closer observation revealed that many crypto and memecoin users believe a recent SHIB burn announcement may have triggered or contributed to the noticeable rally in the memecoin’s price. In a recent post on X, Shibburn revealed that Shiba Inu burned over 11 million SHIB in the past 24 hours.
According to Shibburn, the Shiba Inu burn rate skyrocketed over 6,000%, with a single address burning approximately 8.56 million SHIB across multiple transactions. The memecoin project executed the recent burn exercise across ten wallet addresses.
The post Shiba Inu Burns 11 Million SHIB, Sparking Price Surge and Investor Interest appeared first on Coin Edition.
Read More