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Shiba Inu (SHIB) appears to be setting a new reference point in its deflationary metric, the burn rate, seeing the number of tokens sent to dead wallets overnight. According to data from Shibburn, the burn rate spiked by 1,327.08%, amounting to a total of 105,209,192 SHIB tokens that were set ablaze.
Approximately 105 million SHIB were burned over the past 24 hours.
The spike in token burning aligns with the recent announcement that retired boxing star Manny Pacquiao's charitable organization will be adopting the Shiba Inu network. This strategic move is aimed at enhancing the fundraising initiatives of Pacquiao's charitable endeavors, introducing a new dimension to Shiba Inu's ecosystem and community engagement.
Dogecoin (DOGE) has seen a notable increase in both its price and transaction volume. According to Santiment, a prominent crypto analytics firm, Dogecoin has experienced a modest 5% surge, standing out during a predominantly bearish day.
Shiba Inu (CRYPTO: SHIB) has seen a 1400% increase in its burn rate over the past 24 hours, as 105 million SHIB tokens were transferred to a dead wallet on Thursday. What Happened: This surge in token burning coincides with the news that retired boxing star Manny Pacquiao's charitable organization will be adopting the Shiba Inu network to boost its fundraising initiatives.
Shibarium's meteoric rise: 1,058 new contracts in a day.
Popular cryptocurrency market analyst Captain Faibik has recently shed more light on his predictions toward the price of Shiba Inu (SHIB) and revealed where the cryptocurrency ought to be by mid-December. Crypto Analyst Optimism On Shiba Inu The crypto analyst took to his official X (formerly Twitter) handle to share his projections on the price movement of Shiba Inu.
According to the IntoTheBlock break-even price indicator, Shiba Inu (SHIB) is approaching a massive 627 trillion SHIB barrier.
According to an X post published recently, Atomic Wallet has integrated the Layer-2 blockchain Shibarium. Now, this network and its native coins SHIB, BONE and LEASH are exposed to more than five million of the wallet's users.
Atomic Wallet and Shibarium L2 integration triggers backlash from June's hack victims.
While the revived interest in artificial intelligence (AI) has yet to subside, thanks to continuous advancements, platforms like Google Bard have already demonstrated massive utility in analyzing trends and providing insights into the cryptocurrency sector and assets like Shiba Inu (SHIB).
A significant transaction involving Shiba Inu (SHIB) tokens has captured the attention of the cryptocurrency community. A colossal amount of 144 billion SHIB, valued at approximately $1.293 million, was transferred on Binance, raising speculation about the intentions behind this move and its potential impact on the token's price performance.
The Manny Pacquiao Foundation will use Shiba Inu's (SHIB) nascent Shibarium blockchain ecosystem to receive crypto donations and for operations. The leader of the nonprofit, an eight-division World Boxing Champion and former Philippine senator, made the announcement on X (Twitter).
With Bitcoin inching closer to the $38,000 breakout, the high hopes of a Bitcoin spot ETF approval drive the market. In resonance with the market recovery, the top meme coins perform extremely well and highlight breakout entry opportunities.
Technical indicators and market developments point to bullish breakouts ahead for both meme coin Shiba Inu and Ethereum, as the cryptocurrencies consolidate before their next major price increases.
Crypto company Bakkt has relaunched its dedicated crypto custody platform, adding support for as many as 6 new tokens, including Dogecoin memecoin (DOGE) and Shiba Inu (SHIB).
On the daily SHIB/USDT chart, it's observed that the meme coin is consolidating above the 200-day Exponential Moving Average (EMA), a substantial support level. In the past, a successful retest of this level has often led to upward price movements.
The Shiba Inu (CRYPTO: SHIB) ecosystem Shibarium, the ecosystem's burgeoning layer 2 blockchain, will be instrumental in fundraising and operational activities for the Manny Pacquiao Foundation starting Wednesday, as indicated by developers in a statement to CoinDesk. What Happened: The foundation, named after and led by the eight-division World Boxing Champion and former Philippine Senator Emmanuel (Manny) Pacquiao, is no stranger to cryptocurrency, having accepted SHIB on its website since 2021.
The cryptocurrency Shiba Inu (SHIB) is at a critical juncture, according to recent technical analyses. After a formidable rally, SHIB's price is retesting key support levels that could determine its trajectory in the short term.
Shiba Inu shook hands with the only boxer who has held world titles in four different decades.
DOGE and SHIB holders have had different things to talk about in the past month. As two of the most popular meme coins, Dogecoin and Shiba Inu seem pretty similar at first glance.
Manny Pacquaio's non-profit will use Shibarium for fundraising and operational activities.
The cryptocurrency market is trading in neutral mode, according to CoinStats.
Manny Pacquiao's Foundation embraces Shibarium's technology to boost charitable Initiatives.
