HomeCrypto NewsAltcoinShiba Inu's burning speed increased by 130%

Shiba Inu's burning speed increased by 130%

- Advertisement -

Shiba Inu has seen another spike in the number of tokens burned.

According to blockchain tracking service Shibburn, the popular memecoin has seen a rapid increase in the past 24 hours as users burn 130% more tokens than usual.

- Advertisement -

Since the announcement of the Shiba Inu crypto card, which has seen an increase in the number of Shiba Inu tokens burned as users burned nearly 1 billion Shiba Inu per day, massively reducing the supply, it is one of key factors for SHIB to have a chance to reverse in the market.

Over the past 44 days, Shiba Inu has been moving in a flag pattern with several unsuccessful attempts to break the upper boundary of the pattern due to the lack of buying power by the bulls.

Considering the fact that the Shiba Inu has been moving in a strong downtrend for the past few months, the appearance of this pattern should be seen as a positive factor as it now shows the potential for a reversal.

See more:

Rate this post
- Advertisement -

Maybe you are interested

Shiba Inu's game has been successful in Vietnam

Shib Eternity has seen great demand in Vietnam.William Volk, Director of Shiba Inu Games, stated that Shiba Eternity has...

Shiba Inu whale suddenly woke up when SHIB increased by 34% in one day

Cryptocurrency analytics firm Santiment is tracking massive purchases by Shiba Inu.According to a new post, the company...

Shiba Inu Booms, Reaches $10 Billion Market Cap

Capital in the crypto market is turning to memes as a new week begins.Cryptocurrency meme coin Shiba...

The Merge of Ethereum Could Happen Sooner Than Expected

Ethereum's Core Team developers have agreed that The Merge could happen a few days earlier than...

Shiba Inu's new game is ready to test for Vietnamese users

Shiba Eternity is now available for public testing for Vietnamese users. The main developer of Shiba Inu, with the nickname...

Related posts

- Advertisement -