- SHIB regained its position in the top 10 popular smart contracts.
- The Burn rate jumped by 225%, and around 45 million SHIBs were burned.
- SHIB also re-appears in the top 10 largest assets held by Ethereum whales.
Shiba Inu is slowly gaining traction in the crypto industry and looks like it is all set to dethrone DOGE as the most popular meme coin in near future. A Cryptocurrency’s or token’s Burn rate depends upon its supply and utility. Companies tend to burn some to manipulate supplies, capitalizing on their scarcity. The recent tweet from Shibburn showed that a significant amount of SHIB stash was burnt in the last 24 hours.
Source: https://www.thecoinrepublic.com/2022/12/19/shib-rises-among-most-popular-smart-contracts-burn-rate-soars-to-225/