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Shiba Inu Burn Rate Increases 13,000% Amid Whales Moving 11 Trillion SHIB

Shiba Inu, the self-proclaimed Dogecoin killer, is creating quite a stir in the cryptocurrency space following its colossal surge in token burning.

Furthermore, according to recent data revealed by Whale Alert, one of the world’s leading crypto tracking platforms, a series of colossal whale transactions has caught the attention of investors and traders as it recently transferred more than 10 trillion tokens from today, November 7th. , 2023.

Subsequently, amidst the constant burning and reallocation of SHIB tokens, the price of Shiba Inu has seen a marginal increase over the past seven days and today’s price has seen a slight jump.

Shiba Community Burns Tokens Amid Price Rise

According to recent data from Shibburn, 173 million SHIB tokens were burned in the last 24 hours. The burn rate of SHIB has seen a phenomenal increase and has increased by 12,840.60% at the time of writing.

The aforementioned token burn reflects the positive sentiment surrounding the SHIB token economy. The Shiba Inu crypto community appears to be improving the SHIB tokenomics by reducing the total tokens available for supply.

Shiba Inu (SHIB) price, at the time of writing, has seen a marginal increase and is up 3.91% in the last twenty-four hours, reaching $0.000008367. Furthermore, the token has seen a marginal increase of 5.12% in the last seven days.

The rise in the meme coin’s price appears to be in line with recent strides made by the community to improve the SHIB tokenomics.

Also Read: Cathie Woods’ Ark Invest Buys Block Inc. Shares, But Drops Grayscale’s GBTC

Whales Transferring Billions of SHIB Tokens

According to the data revealed, as of today, November 7th, a staggering 2.4 trillion SHIB tokens have been transferred from an address, 0x9acbb72c…9c6a9c3311, called Paribhu, to an unknown wallet, 0xa23cbcdf…65885be3f5.

Furthermore, in a series of whale transactions around Shiba Inu, more than 10 billion tokens have been transferred to date, following the Shib community’s efforts to improve the SHIB tokenomics.

To date, a staggering 4.4 billion SHIB tokens have been transferred from Bitvavo, a cryptocurrency exchange, to an unknown wallet, 0x5c21d705…d05d59f201.

Furthermore, another whale movement caught the attention of cryptocurrency enthusiasts, transferring 4.4 billion SHIB tokens from one unknown wallet to another. The unknown wallet, 0x3ba943c7…225e6dabee, transferred SHIB tokens to another unknown wallet, 0x0259ca48…52d2b3064f, on Bitvavo.

The total number of SHIB tokens transferred in the last twenty-four hours reaches over 10 trillion, reflecting the positive sentiment across the broader crypto market.

The aforementioned transactions involving mass movements of SHIB whales appear to arise as a result of the Shiba Inu community’s support for its token. Furthermore, the Shiba crypto community has also been constantly burning SHIB tokens in hopes of improving the SHIB tokenomics.

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Bitrue Crypto Exchange Launches Shiba Inu Staking Pool with 10% APY

Bitrue, the Singapore-based cryptocurrency exchange, has recently made significant strides in the Shiba Inu ecosystem, introducing the long-awaited Shibarium betting pool and listing LEASH, one of the prominent tokens in the ecosystem. These developments provide users with the opportunity to earn SHIBs, enjoy attractive returns and access enhanced trading options.

Shibarium Stake Pool launches and offers profitable returns

Bitrue started the Shibarium betting pool, announcing that it is allowing users to stake their LEASH and BONE tokens and win SHIB, the second largest dog-themed token.

With an impressive 10% Annual Percentage Yield (APY), the betting pool offers users a lucrative opportunity to earn passive income.

The participation period will last for 30 days, allowing users to participate for one month. Bitrue urges users to take advantage of the early stage as these investment opportunities are expected to run out quickly.

Bitrue includes LEASH and expands trading options for the Shiba Inu ecosystem token

Bitrue has expanded its support for the Shiba Inu ecosystem to include LEASH, offering users better trading opportunities. The listing allows users to access deposit functions on Bitrue’s trading platform, paving the way for greater liquidity and market share.

Investors and enthusiasts are now paying attention to the potential for substantial returns with Shiba Inu ecosystem tokens. Bitrue’s recent announcements have created excitement among SHIB holders as the expansion of the PowerPiggy service offers exclusive benefits to new users.

However, BONE, the governance token of decentralized exchange ShibaSwap, has seen price fluctuations. Currently priced at $1.23, BONE is down 92% from its all-time high (ATH). However, if BONE were to recoup its ATH of $15.50, investors would need an investment of $79,354 now to earn a return of $1 million.

Stylized as the Doge Killer within the Shiba Inu ecosystem, LEASH reached an ATH of $8,983 shortly after launch, but faced the brunt of a bear market, resulting in a current price of $416. of its ATH, the future movement of the LEASH price remains uncertain. If LEASH rises 2059% and recovers its ATH, an initial investment of $46,176 at current prices would yield a return of $1 million.

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Crypto Exchange Kraken To List Shiba Inu Tomorrow: SHIB Investors Expect Price Rise

The Kraken cryptocurrency exchange has indicated that the shiba inu cryptocurrency (SHIB) will be listed on its platform on Tuesday. Its rival dogecoin has recently gained in popularity, increasing by 97% in the last seven days and by 825.5% in the last 30 days.

Kraken Says Shiba Inu Will Appear On Its Platform Tuesday

Cryptocurrency exchange Kraken tweeted on Monday about the list of shiba inu (SHIB) cryptocurrencies on its platform. According to the San Francisco Stock Exchange, the company’s product manager Brian Hoffman said if the tweet got 2,000 likes, Kraken would include shiba inu on Tuesday. As of this writing, the tweet has received 45,100 likes and 11,600 retweets.

Founded in 2011, Kraken claims to be the world’s largest digital asset exchange in terms of volume and liquidity in euros. Globally, its client base trades over 60 digital assets and seven different fiat currencies including EUR, USD, CAD, GBP, JPY, CHF and AUD, the details of its website. Kraken was the first crypto company in the United States to receive a state banking license. The crypto exchange serves over 7 million traders around the world.

According to a Twitter user, a Kraken customer representative confirmed on Monday that SHIB will appear on the ‘tomorrow’ list, adding: “We don’t have the exact time it will appear, but there should be an update. tomorrow”.

SHIB supporters view the price of the Kraken as ultra bullish, hoping that the price of the shiba inu will rise. One person tweeted: “Good news for SHIB, who expects a price increase as soon as it becomes available for negotiation here. Kraken is also likely to make a lot of money from exchange rates. Another expects the price of the SHIB to rise significantly, noting that the Kraken listing will give the meme a “much needed boost.”

Meanwhile, shiba inu supporters are trying to get the Robinhood trading platform to include SHIB. A petition on to convince Robinhood to include the same coin garnered 461,439 signatures. Shiba inu adoption is also increasing, and AMC Theaters are considering accepting SHIB alongside dogecoin and other cryptocurrencies for payments.

Recently, the shiba inu coin has gained popularity. It became a rival dogecoin and became the ninth largest cryptocurrency. Its market capitalization was around $ 39 billion at the time of writing. Encryption has increased 8% in the last 24 hours, 97% in the last seven days, and 825.5% in the last 30 days.