Shiba Inu Coin Burn Rate Spikes 13000% Amid Pepe Coin Frenzy

    Shina Inu Coin News: Shiba Inu (SHIB), the second largest meme coin price is trading under increased selling over the past month. As Shiba Inu price continued to decline, Pepe Coin, a new trending meme crypto has gained all of the attention. However, it seems like SHIB might be doing a comeback ahead as SHIBarmy burned more than a billion Shiba Inu Coin in the last 24 hours.

    Also Read: SBF Attempts To Flee 10 Of 13 Criminal Charges In FTX Case

    Can SHIB Make A Comeback Here?

    According to the Shibburn data, 1.69 billion SHIB coins have been sent to a dead wallet in multiple transactions over the past 24 hours. SHIBburn rate has spiked by 13150% after the recent burn. It should be noted that this spike has come after a long dry spell not burning many Shiba Inu Coins.

    Earlier, Coingape reported that the SHIB burn rate is plummeting over time depicting users losing interest in the second largest meme crypto.

    shiba inu burn rate
    Caption: Shibburn

    Shiba Inu price is down by over 18% in the last 30 days. SHIB is trading at an average price of $0.000009, at the press time. Its 24 hour trading is up by 33% to stand at around $185 million. However, Shiba Inu is still the second largest meme crypto with a market cap of $5.16 billion.

    Also Read: Ripple Exec Hints Coinbase’s Next Move

    However, Pepe Coin, a new meme coin in the trend has taken over the crypto market with force. PEPE price has surged by 3400% over the last 30 days.

    Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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