- A total of 9.8 million SHIB tokens were burnt yesterday.
- Shytoshi Kusama announced that the Shibarium beta launch is around the corner.
- SHIB is currently trading at $0.00001351 after a 0.09% increase in price.
Things have been doing rather well for Shiba Inu (SHIB) over the last few days. Most SHIB fans believe that SHIB’s price rally is due to two factors. This first is the increase in the SHIB burn rate, and the second is the most recent announcement about the Shibarium launch.
According to the Shibburn portal, a total of 9.8 million SHIB tokens were burnt yesterday on February 20. This has the potential to fuel the uptrend in SHIB at least in the short term.
Also fueling SHIB’s current growth is Shytoshi Kusama’s detailed blog post on Shibarium’s progress. Although some other points were brought up in the post, the newest update about the Shibarium is what really caught the attention of the SHIB community.
Kusama announced that the Shibarium beta launch is around the corner, and also asked the community to be ready for further announcements about the safety and technical aspects of Shibarium.
CoinMarketCap indicates that SHIB is currently trading at $0.00001351 after a 0.09% increase in price over the last 24 hours. The meme coin is also still up by more than 8% over the last seven days.
SHIB’s 24-hour trading volume is in the red zone today, and currently stands at $321,377,359 after a more than 36% decrease since yesterday. With its market cap of $7,421,019,796, SHIB is currently ranked as the 13th biggest cryptocurrency in terms of market capitalization. This places it right behind Polkadot (DOT) in the 12th position.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
