This has coincided with the SHIB price going below the $0.00002 level today.
Updated info from the tracker’s website has shown little progress, with the burn rate down 17% and a total of 210,439 SHIB transferred to unspendable wallets. There have been four burn transfers so far, with the largest ones worth 117,351 and 50,000 SHIB.
The weekly burn outcome is much better, though, as almost 400,000,000 SHIB coins have been sent to dead addresses. This signifies a rise of 743.98% in this metric.
Both price pullbacks were made following the world’s leading cryptocurrency, Bitcoin, as it lost 2.77% on Friday, dropping from $67,000 to $65,216, and then again today as BTC declined from $66,740 to the $65,590 price tag, losing 1.75%. At press time, Bitcoin is changing hands at $65,453.
The report published by Santiment shows that there is a strong correlation between wallets with 10+ BTC holdings and the overall market value of Bitcoin. Shiba Inu, along with the rest of the market, tend to follow Bitcoin not only down but also up.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
