SHIB community burns over 105% of meme coins, price surges by 10%

From Investing.com

January 2, 2025 09:30:22 AM:

The SHIB community successfully burned a large amount of meme coins, increasing the burn rate by over 105%. Nearly 1,877,749 SHIB were removed from circulation, with a single transfer eliminating 1,000,707 SHIB. In 2024, a total of 44,623,604,014 SHIB worth nearly $1 million has been burned, but some are skeptical of the impact on supply. Vitalik Buterin removed a significant portion in May 2021, while SHIB fans transferred 2,679,767,542 Shiba Inu to dead-end wallets in December.

Meanwhile, the price of SHIB surged by almost 10% in the past 24 hours, rising from $0.00002084 to $0.00002270. This increase follows Bitcoin’s 3.81% rise from $93,070 to $96,520 since Jan. 1. SHIB’s price movements closely track Bitcoin, showing sensitivity to BTC’s fluctuations in the crypto market.

Read more at Investing.com: SHIB Burns Soar 105% as Price Shows Unexpected Large Growth By U.Today