Shiba Inu burn rate spiked by over 3,674% on election day, with the SHIB community playing a likely role in this coordinated effort.
Historically, Shiba Inu and Dogecoin have moved in tandem. For SHIB to break out, it needs to leverage this dynamic.recently caused a stir in the crypto space with a staggering 3,674% surge in Shiba Inu burn rate on U.S. presidential election day.
Over 53 million SHIB tokens were burned in 24 hours, including a single transaction of nearly 29 million tokens. Routine burns alone may not be enough to trigger a breakout. Trading at $0.000018 at press time, SHIB needs to surpass the $0.000020 threshold for any meaningful upside. Historically, the two meme coins have often moved in sync, with interest in one spurring activity in the other.
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