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Shiba Inu Burn Rate Surges 8500%, SHIB Reversal Coming Up?

The post Shiba Inu Burn Rate Surges 8500%, SHIB Reversal Coming Up? appeared first on Coinpedia Fintech News

Shiba Inu’s burn rate surged by a massive 8500% on Wednesday, July 3 as per Shibburn data, destroying 17.71 million SHIB tokens. The highest burn was initiated by the wallet 0x608…, which burned a staggering 7.77 million SHIB tokens. Another wallet, 0xa2d…, transferred 4.17 million SHIB tokens to a dead wallet, removing them from circulation. SHIB’s massive surge rate has led to speculations of a price reversal. Shiba Inu’s price was down by 1.17% to $0.00001695 on Wednesday, July 3. While its 24-hour trade volume surged 4.18% to $182.27 million.

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