Shiba Inu investors have had a rally in recent days. Unfortunately not all investors realize that around 41 percent of total crypto memes are ‘burned’.
This means that the coins have been withdrawn from the market and are no longer in circulation. These data are based on Etherscan data. According to the top 10 crypto-asset holders list, about 10 percent have been acquired by Crypto.com and Binance.
Both are digital crypto asset platforms. Total Shiba Inu currency holders reached 836,588 coins. It is an excerpt from yahoo finance written on Saturday, 30/10/2021.
On the Uniswap site it says that plaftrom has locked 50 percent of the coins. The rest went to ethereum co-founder Vitalik Buterin. Buterin has contributed approximately $1 billion or Rp 14.22 trillion (assuming IDR 14,227 per US dollar) cryptocurrency as a COVID-19 relief fund in India. After that, it ‘burns out’ and permanently stops the supply from circulating.
Shiba Inu is an ethereum-based crypto asset like Dogecoin. The beginning of his emergence in August 2020 with the founder Ryoshi. On page 28 of the Woof newspaper, the creation of the Shiba Inu aims to move away from rigid social structures and traditional mindsets.
The rise of Shiba Coin is causing a domino effect on crypto assets. Cryptoassets rose with a total valuation of 37 billion USD, or 524.03 trillion IDR. On Thursday, October 28, 2021, the price of Shiba Inu recorded the highest peak in crypto assets and the 10th most valuable cryptocurrency.
What are Shiba Coins?
Excerpt from the Liputan6.com Techno Channel, what is a Shiba Inu coin? Express said the Shiba Inu coin is a young cryptocurrency. This is because this coin was only launched in August 2020. The growth is also quite unusual, given the increase in the exchange rate in October.
One of the key factors behind the rise in the value of the Shiba Inu coin was a tweet from Tesla CEO Elon Musk. Apparently, a tweet of the logo image of a puppy named Floki on October 7 triggered a spike in the price of the Shiba Inu coin a few hours after it was uploaded.
Earlier on September 15, 2021, the Shiba Inu currency rose in value when Elon Musk tweeted “Floki has arrived” with a picture of his new dog.
In the days following Elon Musk’s tweet, the value of the Shiba Inu coin rose 1,000 percent.
This isn’t Elon Musk’s first tweet about cryptocurrencies. Elon Musk is known as a crypto enthusiast. He sometimes uses his social media to share his views on the latest cryptocurrencies.
Elon Musk has more than 60.6 million followers on Twitter, which makes him quite ‘audible’. Elon Musk’s tweets have been dubbed the “Musk effect” because of his tweets, causing a spike in the prices of a number of cryptocurrencies.
A few months ago, on February 4, 2021, Elon Musk’s tweet that read ‘Dogecoin is the people’s crypto’ caused the value of the currency to rise 50 percent in one day.
