Shiba Inu Burn Token Makes Shiba Inu's Market Cap Soar Sharply

Bittime - Meme coin Shiba Inu (SHIB) has again stolen the show with a significant price increase in recent days. SHIB managed to stay in the top 10 largest coins by market cap.

Shytoshi Kusama, the lead developer of Shiba Inu, reported via Twitter that there is a big project coming out soon. He stated that he has conducted meetings and consultations with several partners to launch a new service based on Shiba Inu. This announcement comes after Shiba Inu experienced a fairly impressive rally.

In addition, data from Lookonchain reveals a trader who managed to earn up to 628 times the profit if he did not deposit his coins into Coinbase.

The trader only spent 1.51 $ETH ($2,521 or IDR 39.5 million) to buy 49.8 billion $SHIB ($1.93 million or IDR 30.3 billion) in 2021. After 2.6 years of staking, he cashed out 40.5 billion $SHIB ($1.58 million) and deposited it into Coinbase 30 minutes ago. If he sells it, he will get about $1.58 million or Rp 24.8 billion, a profit of 628 times!

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Market Cap Shiba Inu

Meanwhile, the crypto community is eagerly waiting to see if Shiba Inu can beat Dogecoin, the first popular meme coin. The new products and services that will be launched by Shiba Inu could be a driver of the coin's momentum.

Not to be outdone, Shiba Inu's market capitalization continues to approach Dogecoin, which currently reaches $ 22 billion or Rp 345.9 trillion. Data from IntoTheBlock shows that Shiba Inu transactions with values above $100,000 are on the rise. On May 5, there were 3,848 transactions at that value, up from 2,222 transactions on May 4. Data from Shibarium Scan shows a spike in new account creations, with 195 accounts on March 5, compared to 57 accounts on March 4.

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Burn Token Shiba Inu

Data from Shibburn shows there are 177 million tokens that have been burned in the last eight hours, which is in line with the meme coin's price recovery after it briefly dropped yesterday. In the burn, there were transactions of 100.5 million tokens, as well as 39.5 million and 10 million tokens in other prominent burns.

Shiba Inu has shown a consistent rally over the past few weeks, driven by significant developments, new product releases, increased transactions from large holders, and high burn rates. These factors could strengthen the meme coin's further rally.

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Cara Beli Shiba Inu (SHIB) di Bittime

Kamu bisa beli dan jual Shiba Inu (SHIB) dengan cara yang mudah dan aman melalui Bittime. Bittime adalah satu aplikasi kripto terbaik di Indonesia yang sudah resmi terdaftar Bappebti. 

Shiba Inu (SHIB) tersedia di Bittime dengan market pair SHIB/USDT. Untuk bisa beli SHIB USDT di Bittime pastikan kamu telah melakukan registrasi dan menyelesaikan verifikasi identitas. Selain itu, pastikan juga kalau kamu punya saldo yang cukup dengan melakukan deposit sejumlah dana ke wallet. Sekadar informasi, minimal pembelian aset di Bittime adalah Rp10.000. Setelah itu, barulah kamu bisa melakukan pembelian aset crypto di aplikasi. 

Belajar panduan lengkap cara beli Shiba Inu (SHIB) di Bittime. 

Monitor the price chart movements of Shiba Inu (SHIB), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Shiba Inu (SHIB): What is it, How Does It Work, and Why is It Popular?

Dogecoin Vs Shiba Inu: Eye-Captivating Each Other

Whale Mastered SHIB, BABYDOGE and Meme Coins

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.