💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

SHIB Burn Rate Drops By 100%; Over 800 Billion SHIB Unstaked; What's Happening?

Published 16/03/2023, 13:21
© Reuters.  SHIB Burn Rate Drops By 100%; Over 800 Billion SHIB Unstaked; What's Happening?

Benzinga - Shiba Inu Coin News: Shiba Inu's (CRYPTO: SHIB) upcoming Shibarium blockchain has already landed into controversy. It is alleged that the Shiba Inu developers have copied Rinia which is a different project. The allegations have made a major impact on the recent decline of the Shiba Inu price. In the meantime, crypto whales have made their move.

As per the data provided by WhaleAlert, a crypto whale moved 800 billion Shiba Inu coin from the Shiba Inu staking to an unknown wallet. This implies that the whale unstacked $8.23 million worth of SHIBs from the program amid the speculation of the Shibarium code being copied.

Shiba Inu coin price fell as much as 10% over the last 24 hours. SHIB is trading at an average price of $0.000010, at the press time. Its 24 hour trading volume is down by 27% to stand at $374 million.

However, Shiba Inu went to takeover Tron (TRX) and Litecoin (LTC) in terms of market capitalization. Shiba Inu is holding a market of $6.1 billion.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.