Shiba Inu Burn Rate Surges
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jun 18 2024- Shiba Inu Burn Rate Surges:
- The burn rate of Shiba Inu has increased by 5,569% in just 24 hours.
- Despite the significant burn activity, SHIB's price did not respond positively, leading to questions in the cryptocurrency community.
- A single wallet address was responsible for over 90% of the burns.
- Weekly burn rate increase exceeded 1,000%, yet the price dropped by 16.5%.
- The surge in burn rate highlights the volatility and unpredictability in the cryptocurrency market.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
