"Hmmm, if the price jumps 950%, it's a little bit better, right?"
As the cryptocurrency market recovers and has a strong community, the second largest memecoin Shiba Inu (SHIB) managed to jump over 30% in the last 30 days.
Through Shibburn's data, SHIB's burning rate has increased by almost 950% in the last 24 hours when its community reportedly burned 11.1 million memecoins but that number is less than in January which was 1.2 billion.
The price of SHIB is also reported to have increased by 25% in the past 60 days with gains beating Dogecoin (DOGE) which slipped 8% but is now hovering at $0.09420 in the past 24 hours.
As of this writing, SHIB is trading at $0.000012 with a trading volume of $342 million and a market capitalization of $6 billion.
In the meantime, SHIB is one of the most traded digital assets among the biggest whales, where the top 100 ETH whales have been found to have bought some of the memecoin recently.
Please note that the top 100 ETH whales have held $586 million worth of SHIB and have been the top 10 tokens bought by the big whales over the past day.
