Shiba Inu’s (SHIB) Price on Fire as SHIB Burn Rate Shoots Up 1934%
(SHIB) has seen a bullish trend since the recent cryptocurrency market recovery. Several reasons behind this include a significantly increased SHIB burn rate and Ethereum’s (ETH) TOP 100 whale activity. WhaleStats data indicates that the TOP 500 Ethereum whales have accumulated $133,187.605, equivalent to 11 billion SHIB tokens.
The top 500 #ETH whales are hodling$133,187,605 $SHIB$78,009,900 $LOCUS$75,237,204 $MKR$70,255,363 $BIT$61,256,915 $UNI$44,919,787 $LINK$40,289,644 $MOC$36,949,116 $BESTWhale leaderboard https://t.co/tgYTpOm5ws pic.twitter.com/65Qw09ih6w
— WhaleStats (tracking crypto whales) (@WhaleStats) October 27, 2022
Double-Digit Gains in SHIB
According to CoinGecko, SHIB was priced at $0.0000109 as of press time. In the last 24 hours, the popular canine token has seen a 4.4% increase in value. The weekly outlook looks even brighter with 10.9% of the green.
According to CryptoDep’s statistics, SHIB received 13 million social mentions (including followers upvotes and replies) on Twitter on October 25th. Contrary to SHIB, DOGE managed 18.2 million social mentions.
However, the SHIB Army’s dominance in social media is more prominent with 2% dominance in comparison to the DOGE Army’s 1.33%. This indicates that the SHIB Army has a wider reach than its DOGE counterpart.
TOP #MEME Tokens by Social Activity 25 October 2022$SPKY $SHIB $QUACK $DOGE $FLOKI #BABYDOGE $TSUKA $MONSTA $COLLIE $TAMA pic.twitter.com/U4oXvg1zaB
— CryptoDep #StandWithUkraine (@Crypto_Dep) October 25, 2022
It’s Boiling Hot For SHIB
The SHIB army made a substantial contribution to the uptrend in SHIB’s market price. According to Shibburn there have been 14,896,832 SHIB coins set ablaze in the last 24 hours. The popular canine cryptocurrency is quickly becoming a hit, but the Visa (NYSE) SB card is in the works of its developer team.
This would allow SHIB owners to pay in currency wherever VISA can be accepted. A certain number of SHIB tokens are also lost each time a transaction occurs.
Many crypto influencers anticipate that the SHIB Burn rate will spark another leg in its bull run. Shibarium drops could give the SHIB Army more motivation to set the canine cryptos ablaze.
In the last 24 hours, #SHIB’s burn rate has risen 14267% LFG! New Video: https://t.co/FewMy4mQVb
— YourPOP (@Yourpop8) October 27, 2022
On the Flipside
- There are a few Trick or Treat scams that Shiba Inu-related Trick or Treats as Halloween approaches.
- Some fraudsters are using verified Twitter accounts, which shows the vulnerability of the micro-blogging platform.
- Despite the bullish sentiment, this memecoin with a dog theme lost its appeal #13th place by market cap to Polygon. (MATIC)..
Why you should care
Memecoins leading the rebound rally is clear. Both top dog tokens SHIB (or DOGE) have the largest communities in crypto.
These publications will keep you in the action when it comes to memecoins:
Shiba Inu, SHIB, Unveils Concept For Next SHIB Hub: Metaverse
Shiba Inu (SHIB) & Dogecoin (DOGE) Communities Fighting on Twitter – Here’s Why