Shiba Inu’s Much-Awaited Cold Wallet To Launch Next Week

Vignesh Karunanidhi
Shiba Inu's Much-Awaited Cold Wallet To Launch Next Week
Source: The Crypto Basic

Shiba Inu (SHIB) announced the launch of their cold wallet, which is now available for pre-order starting May 29. Shiba Inu is developing the wallet in collaboration with Tangem, a Swiss company, a recent tweet says.

Even though the initial release of the cold wallet didn’t have an official date, the latest details reveal that the wallets will hit the streets soon. According to the latest tweet from Tangem, the Shiba Inu cold wallet is set to make its debut next week.

Also read: Ripple XRP Claims Top Spot, Outshines Bitcoin in Trading Activity

The demand has seen a notable surge as a considerable number of users have already pre-ordered the cold wallet.

Shiba Inu burn rate spikes as Cold Wallet Nears

The latest data from Shibburn reveals that the burn rate of Shiba Inu has spiked by 180% in the last 24 hours. During this period, 101 million SHIB were sent to dead wallets. One notable transaction that happened 10 hours ago sent 77 million SHIB to burn.

Also read: Shiba Inu Price Plunge Triggers Massive SHIB Transfers on Binance

Nevertheless, the current burn rate is considerably lower in comparison to that of July 17. The burn rate had surged by 7300% on that day. However, the burn numbers remain the same despite the percentage spike in the burn rate.

According to CoinMarketCap data, SHIB is down by 0.3% in the last 24 hours and is trading at $0.00000768 at press time.