TL;DR
- SHIB’s October Burn: Shiba Inu destroyed over 1.4 billion tokens with a notable day on October 28, but this burn rate was 37% less than September. The process correlated with a 5% SHIB price increase in a week.
- Performance Insights: SHIB saw a 12% rise over two weeks.
- Shibarium’s Impact: The recently launched Shibarium scaling solution has already achieved significant milestones, potentially influencing SHIB’s price further.
SHIB’s Massive Burn Rate in October
According to Shibburn, the popular memecoin Shiba Inu saw over 1.4 billion assets destroyed throughout the previous month. The record day was October 28, when more than 250 million SHIB were sent to an address that nobody could access.
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