Thursday, September 29, 2022

Shiba Inu burn rate up 250%, whales buy 312 trillion SHIB

Shiba Inu is constantly in the headlines these days. The most popular token in the crypto industry is grabbing attention with its trading volume and burn rate. Now the latest news is that the burn rate of the Shiba Inu has increased by 250 percent in the last 24 hours. The reason for this is believed to be the purchase of 312 trillion Shiba Inu tokens by Whale Account. Trading volume in whales has increased significantly for the Shiba Inu. An anonymous whale recently bought 300 trillion SHIB tokens, which stunned the market. This purchase is believed to be the reason for such a huge increase in the burning rate.

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Burning Tracking Platforms for Shiba Inu Shibburn As per reports, 170 million Shiba Inu tokens have been burned in the last 24 hours. Due to this, the burn rate of the Shiba Inu has increased by 250 percent. The higher the burn rate increases, the more likely the token price in the market increases. Within the last 50 days, the Shiba Inu has increased its value by 50 percent.

Large whale accounts are being attracted to the Shiba Inu due to the increase in value. Shiba Inu purchase transactions have been rampant in the top 100 whales over the past few days, making it the top token of the favorite holding cryptocurrency for whales. The effect of this activity of whales can be clearly seen on the price of Shiba Inu which has been increasing for the last several days.

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Earlier the arrival of the Shiba Inu card in the market had caused an increase in its burn rate. A new burning mechanism has been added to the Shiba Inu ecosystem that burns a certain amount of tokens each time a card is purchased. In addition, the trading volume of the token has also increased significantly in the last 24 hours. The trading volume in the top 100 whales holding the Shiba Inu has soared to a record high of 511%. With this the average balance of the token has increased by 26.58% and its average value has increased by 24.18%. This increase in trading volume is said to be due to increase in active addresses.

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