Surge in SHIB burns coincides with sudden rise in whale interest
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In the last 24 hours, Shiba Inu has seen a significant uptick in the burn rate, with millions of tokens being torched.account, in the past 24 hours, a total of 4,829,147 SHIB tokens have been burned in seven transactions. This caused a 3,894% increase in the burn rate.The surge in SHIB burns coincides with a sudden rise in whale interest for SHIB, with the number of large transactions involving SHIB doubling this week compared to the averages seen earlier in 2024.
At the time of writing, SHIB was down 1.5% in the last 24 hours to $0.00002562, albeit higher by 7% in the last seven days and up 218% yearly.data, the large transaction volume for SHIB has risen 223%, with $435.66 million transacted in large transactions of more than $100,000. This metric provides an estimate of the total amount transacted by whales and institutional players on a given day.
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