Shiba Inu (SHIB), the meme coin sensation, has sent shockwaves through the crypto sphere once more with its unprecedented burn rate surge of 30,187%. This surge coincided with a meteoric rise in SHIB’s price, reaching $0.00002088 in today’s trading.
Fueling the frenzy, Robinhood, a prominent trading platform, joined the SHIB frenzy, purchasing an astounding 230 billion SHIB tokens within a mere 24 hours. Robinhood’s acquisition now places them in possession of a staggering 36 trillion SHIB, valued at an estimated $352 million. This influx of capital from Robinhood likely played a pivotal role in SHIB’s remarkable price surge.
Robinhood Goes Shiba Crazy, Buys 230 Billion SHIB In 24 Hours NOW HOLDS 36 TRILLION $352 M #ShibaInu
FOLLOW SMART MONEY, THEY ARE MONEY INVESTED BY EXPERIENCED, WELL INFORMED, “IN THE KNOW” OR ALL 3, THEY ARE THE MARKET MAKERS, THEY PERFORM BETTER THAN NON SMART MONEY
NFA DYOR pic.twitter.com/3yFte2lwqS— SHIB Bezos (@BezosCrypto) March 2, 2024
Shibburn data illustrates the fervor, with a staggering 3,759,043 SHIB tokens sent to dormant wallets in the past 24 hours alone. This surge not only reignites enthusiasm among SHIB holders but also addresses concerns over a stagnating burn rate, injecting fresh optimism into the community.
Despite a minor 8.7% dip in the last 24 hours, analysts from Changelly maintain an optimistic outlook for SHIB, forecasting a bullish trend with SHIB expected to trade between $0.00001355 and $0.00001415 over the weekend.
However, the path to $0.00002 remains uncertain. While sentiment remains bullish, market dynamics, including the impact of Robinhood’s investment and Bitcoin’s performance, will significantly influence SHIB’s trajectory moving forward.
#CryptoNews: Shiba Inu (SHIB) Surges Over 27% Amidst Broader Market Rally
🔸Shiba Inu ( $SHIB) breaks above the crucial $0.00001 resistance level, signaling #bullish momentum.
🔸The recent price surge is supported by multiple factors, contributing to a positive outlook for the… pic.twitter.com/l3mBM58a6Z
— Bitunix (@BitunixOfficial) February 29, 2024
As SHIB continues to carve its path in the crypto landscape, its soaring burn rate and the influx of investment from Robinhood highlight the unwavering confidence in the memecoin’s potential. With SHIB holders eagerly anticipating further developments, the crypto community eagerly awaits the next chapter in this exhilarating journey.
