Shiba Inu (SHIB) price exploded last week, outpacing the crypto bear market and rival Dogecoin. The Shiba community believes the Shiba Inu ecosystem’s BONE listing on Binance is imminent. Because the exchange brought the token tracking feature. Here are the latest developments in the SHIB ecosystem…
- 1 Binance adds price tracking feature for BONE
- 2 Game developer supports SHIB burn with followers
- 3 Shiba Inu burn rate increased by 1.405 percent
- 4 Ethereum whale receives $1.57 million worth of SHIB
- 5 Analysts identify bullish signals on the Shiba Inu price chart
- 6 Share this:
Binance adds price tracking feature for BONE
AmkNews.com As we have reported, the world’s largest cryptocurrency exchange has recently added the price tracking feature for BONE. Binance’s page listing the BONE price clearly states that the coin is not listed on Binance for trading. Binance offers users to buy BONE using Ethereum on a decentralized exchange. BONE is the management token of the Shiba Inu ecosystem. It will soon be used to pay for transaction costs in the Shibarium tier 2 solution. The token has caught the attention of investors as it awaits the launch of Shibarium.
ShibArmy is convinced that listing BONE on Binance is imminent. This speculation triggered bullish sentiment among Shiba Inu owners. Last week, SHIB sparked a double-digit price rally. Binance did not make any statement regarding the listing of BONE. It has limited the exposure of the cryptocurrency to users on the platform to its price monitoring feature.
Game developer supports SHIB burn with followers
Travis Johnson, an indie game developer, has invited users to sign up for the Audible trial. The commission collected through Amazon’s referral program will be used to burn Shiba Inu coins. So far, Johnson has raised enough funds to burn 1 million Shiba Inu. Johnson told his followers on Twitter that the number of Shiba Inu will increase when registrations are 100, 1,000 or higher.
Opportunity for anyone interested:
Amazon is offering a $5 Bounty for anyone who signs up for a free trial of Audible. This will be used to burn SHIB, every sign up would burn ~500k SHIB
— SHIB Super Store (@shib_superstore) June 23, 2022
Shiba Inu burn rate increased by 1.405 percent
With more and more Shiba Inu being cremated every day, there is a huge increase in the rate of cremation. According to data from the Shibburn portal, 57.4 million Shiba Inu coins have been burned in the last 24 hours. The burn draws the coins from the circulating supply of the Shiba Inu. It permanently removes them from circulation by sending them to a dead wallet. The increase in the burn rate has created a bullish sentiment among Shiba Inu holders as it increases the value of the remaining tokens. According to Shibburn, 410.37 trillion Shiba Inu have been burned so far.
Ethereum whale receives $1.57 million worth of SHIB
In the latest bloodbath, an Ethereum whale identified as “BlueWhale0073” received a Shiba Inu worth $1.57 million. BlueWhale0073’s acquisition of 163.2 billion Shiba Inu tokens increased SHIB holdings in the investor’s portfolio. Major wallet investors are constantly accumulating Shiba Inu during the price drop. Increasing the number of SHIBs in their portfolio. At the time the whale was purchased, the Shiba Inu had witnessed a small drop in price. However, the meme coin continued to trade 87.3 percent below its all-time high.
Analysts identify bullish signals on the Shiba Inu price chart
Crypto analysts at InvestingCube have detected a clear break from the downtrend. With a sudden increase in trading volume, analysts confirmed that the Shiba Inu will experience a breakout. They believe the bulls can target $0.00001200 and $0.000018585. FXStreet analysts believe that the Shiba Inu price may face a challenge during its recovery.
Meanwhile, SHIB price has gained close to 15 percent in the last 24 hours. The increase in the price of the coin also increased its market value. In the past weeks, when the crypto market experienced a serious correction, the coin had fallen to the 18th place with its market capitalization. At the time of writing, it has moved up to 12th place. The 7-day increase is also very close to 50 percent.
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