Shiba Inu Burn Rate Spikes 144,223%: Will SHIB Hit $0.00005?
Shiba Inu’s (SHIB) burn rate has spiked by 144,233.06%. The project’s burn mechanism has sent over 2 billion SHIB tokens to the dead wallet. One transaction in particular is responsible for most of the burns. Source: Shibburn Also Read: Binance’s BNB Hits New All-Time High: Can It Hit $800 Next? Shiba Inu’s Price Movements Source: CoinGecko SHIB has reclaimed the $0.00003 price point once again. The asset has rallied 24.1% in the weekly charts, 23.7% in the 14-day charts, 80.2% over the previous month, and 231.4% since December 2023. Despite the rally, SHIB’s price has dipped 0.5% in the last 24 hours. The recent burns could be behind SHIB’s latest price spike. The crypto market is also witnessing a surge in altcoin prices. TRON (TRX) and BNB hit new all-time highs earlier today, and other altcoins are also experiencing significant gains. The surge in altcoins could be due to Grayscale filing for a Solana ETF and WisdonTree filing for an XRP ETF. Bitcoin (B...