Attention Investors and Traders: Important Reminder
It is essential to keep in mind that there is always some amount of risk involved before making any investing or trading selections. Therefore, it is advised to carry out in-depth investigation and analysis.
Shiba Inu (SHIB) Explodes with a 1,364% Gain in Just a Day
Shiba Inu (SHIB), the second-largest meme-based cryptocurrency, has grown significantly over the previous day, increasing by more than 1,364%, according to statistics from the Shibburn tracking website.
SHIB Burn Rate is Increasing
The price of the currency has grown along with the rate at which SHIB tokens are burned. The SHIB/USD exchange rate has increased by 3.31% during the last day after declining by about 16% on Wednesday. SHIB is currently trading on the Binance market for $0.00001261.
Correlation Between Price and Burn Rate
It indicates that the cost of SHIB and its burn rate are correlated. The number of tokens burned often decreases when the price drops.
Response of Shytoshi Kusama to the Launch of the Shibarium Layer-2 Protocol
Recently, a developer using a pseudonym remarked on the paucity of updates surrounding the debut of the Shibarium Layer-2 protocol. Shytoshi Kusama’s response was the word “temporarily.” According to reports, the procedure might be unveiled on either February 10 or February 14, which are Valentine’s Day and Japan’s Flute Day, respectively.
SHIB Army’s expectations for Valentine’s Day
The SHIB community centered their hopes on Valentine’s Day as a result of Shytoshi Kusama’s addition of references to “learning to play the flute” and giving Shibarium in a “heart-shaped box” to his bio section in January.