Shiba Inu (Shib) has regained momentum and reached Litecoin (LTC), which has two months of height and shine in the world’s crypto rankings.
Shiba Inu continues the rally that began two weeks ago. The updated rally pushed prices up to a two-month high of 0.00001587 early today.
At the moment, Shiba Inu has increased by 5.43% over the last 24 hours, 15.36% over the past week and 39.47% over the last 30 days. Currently priced at $0.00001586, Shiba Inu boasts a valuation of $9.34 billion.
However, the milestone was short-lived as Litecoin pushed Shiba Inu down to the 19th position over the weekend. In particular, Shiba Inu has collected 18th place in the rankings, bringing 5.43% in the past 24 hours.
In the meantime, the difference in market capitalization between Shiba Inu and Litecoin is less than $200 million. SHIB is valued at $9.34 billion, while Litecoin’s market capitalization is approximately $9.15 billion.
Shiba Inu overtakes Litecoin Inu in crypto rankings
Shiba inu Burn Rate Spikes 2,815% in 24 hours
In particular, this development follows a significant surge in the burn rate of Shiba Inu. New data from Shibburn shows a 2,866% increase in burn rates over the past 24 hours. This has resulted in 2,196,079 (2.9 million) of shiv tokens being incinerated in the past day’s transactions.
Shiba Inu Burn Rate is rising sharply
Yesterday, my best daily burn occurred at 11:29am (UTC). This saw an unknown address of 0x188…C3CDD and 1 million Siv was sent to the official burn wallet.
In addition to the shib burning of 1 million copies, the sender was responsible for seven other burn-related transactions in the past day. Of the 2.9 million Shiba Inu tokens burned over the past day, this address incinerated 1,343,285 (134 million) of Shibu.
Shiba Inu’s daily burn rate skyrocketed by 2,815%, while the metric represents an 89.53% lower compared to last week.
