Shiba Inu Burn Rate Skyrockets 550% As Founder Teases Massive SHIB ETF Potential ⋆ ZyCrypto
The post Shiba Inu Burn Rate Skyrockets 550% As Founder Teases Massive SHIB ETF Potential ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Shiba Inu, the self-proclaimed “Dogecoin Killer,” has witnessed a staggering 550% surge in its burn rate, with 12 million SHIB tokens incinerated in the past 24 hours. This surge comes from a teasing post on X from the cryptocurrency’s enigmatic founder, Shytoshi Kusama, hinting at the possibility of a Shiba Inu ETF. The burn rate spike, as reported by Shibburn, is a significant development for Shiba Inu. This metric represents the rate at which tokens are permanently removed from circulation, effectively reducing the total supply and potentially impacting the token’s value. The 12.3 million SHIB tokens burned in the past day mark a substantial increase, indicating heightened activity within the Shiba Inu ecosystem. Shytoshi Kusama Teases SHIB ETF Potential Adding to the excitement, Shytoshi Kusama, the elusive founder of Shiba Inu, took to X (formerly Twitter) to congratulate “Ethereum friends” following the SEC’s approval of a spot Ethereum ETF on Friday. In a tantalizing twist, Kusama hinted at the possibility of a similar ETF for SHIB, stating, “Does this pave the way for SHIB? I’ll let you decide… I’ll stay focused on what we have coming. STAYTUNED.” Congrats to our frens at @ethereum on the ETF APPROVAL! Does this pave the way for #SHIB? I’ll let you decide… I’ll stay focused on what we have coming. #STAYTUNED — Shytoshi Kusama™ (@ShytoshiKusama) May 23, 2024 This cryptic message has set tongues wagging within the Shiba Inu community, fueling speculation about the token’s prospects. Advertisement   Coinbase Listing Boosts Liquidity and Market Depth In another positive development for Shiba Inu, Coinbase, the largest exchange in the United States, announced the upcoming listing of perpetual futures for SHIB on Coinbase Advanced, alongside Floki Inu and Bonk. Scheduled to go live on May 30, this listing is expected to enhance liquidity…
Filed under: News - @ May 26, 2024 1:10 am