Chain News Daily Official TheBitTimes.com

Over 1.7 billion Shiba Inu tokens (SHIB) were burned in the final week of 2024, raising questions about the meme coin’s future in 2025. SHIB recorded mild incineration in a notable move just before 2024 came to a close. The project saw over 1.7 million SHIB tokens taken out of circulation in a massive burn. At press time, SHIB is trading at $0.00002124, down 33% in the past 30 days. In light of this downturn to close out 2024, Data from Shibburn reveals that the Shiba Inu burn rate soared by 243.34% in the last 24 hours. Specifically, 1,717,872 SHIB tokens were sent to dead wallets on the network. The burning of Shiba Inu tokens is an often-measured statistic when understanding the asset’s price and circulating supply. The burning of SHIB tokens is done to keep a strong hold on value by manipulating how much SHIB there is at a given time. With the token’s price down in December, the burning of over 1.7M SHIB is likely to spark a rally for the start of 2025. Shiba Inu ...

Shiba Inu whale activity is on the rise amid a major price breakout for the dog-themed cryptocurrency. Data from IntoTheBlock indicates that 1.3 trillion SHIB was transferred in large transactions of no less than $100,000 in the past day. This is up significantly from the day before by 115%. The increase was characterized by a $10.15 million increase in the volume of whale transactions. About 73% of Shiba Inu’s holders are whales, according to data from IntoTheBlock. With such a large concentration of whales, the SHIB market often witnesses substantial transactions. Whale movements and price pumps for Shiba Inu often go hand in hand, so it’s no surprise to see whales moving around a potential price breakout for the coin. Image Source: WatcherGuru At press time, SHIB is trading at $0.00001414. However, just this morning the coin jumped over 5.62%, reaching $0.0000145, which is its highest price in a month. SHIB’s price has also increased by nearly 92% over the past year. SHIB’s ra...