Shiba Inu Burn Rate Increases 800% With Kraken Margin Pair Listing

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Shiba Inu burn rates have rebounded, with an 800% increase and millions of coins burned in recent transactions, resulting in good market sentiment and price increases. 

Lucie, Shiba Inu’s marketing manager, underlined the importance of income generation in facilitating burns, citing Ryoshi’s burning of SHIB supply keys.

Kraken Pro, an advanced cryptocurrency trading platform, has revealed additional margin pairs, including SHIB. However, geographical limits will apply. 

At the time of writing, SHIB was trading at $0.00002408, up 4.5% in the previous 24 hours.

Despite the recent price drop in SHIB, IntoTheBlock data shows that 653,530 Shiba Inu addresses own a significant 733.6 trillion SHIB coins, most of which are still profitable. This demonstrates SHIB owners’ commitment to the meme coin.

These events follow the sudden transfer of 1.75 trillion SHIB tokens from a Robinhood wallet to an unknown wallet, the Shib community’s $12 billion financing round, and the implementation of a significant hard fork update to increase user performance and block processing times.

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