HACK - 'Dogecoin Killer' Shiba Inu Burn Rate Shoots Up 875% Even As Price Comes Under Pressure After WazirX Hack | Benzinga
Shiba Inu‘s (CRYPTO: SHIB) burn rate shot up significantly in the last 24 hours even as the memecoin faced intense selling presure from the sale of tokens stolen from Indian cryptocurrency exchange WazirX.
What Happened: Nearly 52 million SHIB tokens were kicked out of circulation, according to the official burn tracker Shibburn, representing an impressive 875% spike. The surge in burn rate exerted deflationary pressure but was not enought to offset the pain caused by hackers of WazirX who dumped trillions of SHIB in the ...