Shiba Inu Burn Rate Increases 5,800% As Shiba Inu Achieves Important Goal

Shiba Inu’s burn increased by 5,800% on November 6, according to the Shibburn website. The burn rate increased as more tokens—millions more—were delivered to inactive wallets. 9 transactions and 93,876,540 SHIB tokens were burned in the last day. Given that only 2.1 million SHIB were burned the day before, this is extremely significant.

The Shiba Inu burn tracker indicates that 197,799,286 SHIB were burned in the previous seven days.

Shiba Inu’s holder count, which is currently 1,237,156, continues to reach new highs, according to data from WhaleStats. Furthermore, it appears that conviction among holders is at an all-time high.

Currently, exactly 97% of SHIB holders are medium- and long-term investors. As the shares of midterm and long-term holders approach parity, an intriguing phenomena is emerging. According to data from IntoTheBlock, the proportion of long-term investors, or “hodlers,” has increased to 48%, while that of midterm investors is currently 49%. A startling amount of SHIB has been transferred across wallets over the past 24 hours.

3,400,897,761,900 SHIB worth $43,022,376 were transferred between wallets, according to cryptocurrency data tracker Whale Alert.

Expectations are rising for the upcoming Shibarium debut – Shiba Inu

There are currently plans in place for a quick release of Shibarium. At the time of publication, the @shibariumnet official Twitter account had more than 20,800 followers.

The team predicts that this will ultimately develop into a social knowledge hub for anything associated with the Shibarium Network and Protocol.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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