Main navigation

SHIB Burn Rate Jumps 252% on Exciting Ecosystem Developments

Fri, 11/25/2022 - 12:10
article image
Tomiwabold Olajide
Positive news has been coming in lately, thrilling Shiba Inu community
SHIB Burn Rate Jumps 252% on Exciting Ecosystem Developments
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

According to the Shibburn website, the Shiba Inu burn rate was demonstrating an increase of 252% in the last 24 hours. 

However, only 23,735,647 SHIB were burned. Positive news has been coming in lately, thrilling the Shiba Inu community.

SHIB Burn Rate, Courtesy:

In recent days, Travala, a crypto-friendly travel platform, and Bitpoint, a top Japanese crypto exchange, announced treats for the Shiba Inu community. Users who book on Travala using SHIB will receive a free $25 travel credit to use on any of the more than three million hotels and flights on the website.

Millions of SHIB to Be Gifted During Listing on Major Japanese Crypto Exchange

To the joy of the Shiba Inu community, cryptocurrency exchange BitPoint Japan announced it would list SHIB at the end of November, making it the first major Japanese exchange to do so. Bitpoint announced rewards for SHIB users, saying it will give new users one million Shiba Inu tokens as gifts.

Also, the exchange launched a social media campaign to celebrate its SHIB listing, with millions of SHIB to be given out as rewards.

At the same time, SHIB's lead developer, Shytoshi Kusama, posted a mysterious tweet that contained only the interjection "WOOF," commonly used by the community when something exciting happens.

This, in a way, stirred up expectations as the SHIB community replied excitedly; some even responded, "Shibarium."

Whales are not left out of action

According to WhaleStats data, SHIB currently ranks among the top 10 purchased tokens among the 500 biggest ETH whales in the last 24 hours.

SHIB is up 1.15% and is currently worth $0.000009 per token, down 89% less than its all-time high. SHIB is the 15th largest cryptocurrency in the world with a market cap of $4.96 billion, according to data from CoinMarketCap.

In 2021, SHIB's market worth exceeded $41 billion briefly, making it more valuable than several S&P 500 corporations.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.