{"id":534539,"date":"2023-05-23T04:45:04","date_gmt":"2023-05-23T04:45:04","guid":{"rendered":"https:\/\/ktsl888.com\/?p=534539"},"modified":"2024-06-11T07:48:13","modified_gmt":"2024-06-11T07:48:13","slug":"shiba-inu-burn-rate-spikes-after-a-few-stagnant-days","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-spikes-after-a-few-stagnant-days\/","title":{"rendered":"Shiba Inu Burn Rate Spikes After A Few Stagnant Days"},"content":{"rendered":"<p><span style=\"font-weight: 400\">After a few days of stagnation, the Shiba Inu community seems to have picked up its token-burning mechanism.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A report from Shiba Inu\u2019s token burn aggregator, Shibburn, indicates that the SHIB Army has significantly raised the burning rates within the past 24 hours. <\/span><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/twitter.com\/shibburn\/status\/08725248\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> showed that the community destroyed 50.18 million SHIB tokens in 24 hours.<\/span><\/p>\n<h2>SHIB Burn Rate Picks Up After Some Days Of Decline<\/h2>\n<p><span style=\"font-weight: 400\">The SHIB burn rate surged 8,627% over the past 24 hours compared to the previous day.\u00a0<\/span><span style=\"font-weight: 400\">The burning process was completed through two transfers: the burn of 39,511,911 and 10,676,779 SHIB tokens.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Cumulatively, the community moved about 3.09 billion SHIB tokens to the dead wallet within the past week. <\/span><span style=\"font-weight: 400\">As of Saturday, May 20, the <\/span><a href=\"https:\/\/twitter.com\/shibburn\/status\/08725248\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shiba Inu burn rate<\/span><\/a><span style=\"font-weight: 400\"> for the week showed a surge of 666% for the past week.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-price-double-fractal-extended-parabolic-rally\/?swcfpc=1\">Bitcoin Price Double Fractal Points To \u201cExtended\u201d Parabolic Rally<\/a><\/div>\n<p><span style=\"font-weight: 400\">Further, the <\/span><a href=\"https:\/\/www.shibburn.com\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shiburn website<\/span><\/a><span style=\"font-weight: 400\"> shows the Shiba Inu community collectively destroyed 410,642,087,431,967 SHIB tokens.\u00a0<\/span><span style=\"font-weight: 400\">Currently, the meme coin has about 574,308,140,003,340 SHIB coins as its total circulating supply.<\/span><\/p>\n<h2>Shibarium Token Burn Details Excites The SHIB Army<\/h2>\n<p><span style=\"font-weight: 400\">The layer 2 solution network of Shiba Inu, Shibarium, has made tremendous progress while still in the beta-test phase. <\/span><span style=\"font-weight: 400\">The Shiba Inu team, under the leadership of the pseudonymous Shytoshi Kusama, disclosed the SHIB burning mechanism on Shibarium.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/twitter.com\/ShibBPP\/status\/09730305?\" rel=\"nofollow\"><span style=\"font-weight: 400\">details<\/span><\/a><span style=\"font-weight: 400\">, fees for all transactions completed on Shibarium are paid in BONE.\u00a0<\/span><span style=\"font-weight: 400\">The basic fees for all transactions are locked on a contract on the network, while the validators will get priority fees.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The network will set aside a total of 30% of the fees for maintenance purposes. However, it will burn the remaining 70% of the fees.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A Twitter user, SHIB INFORMER, <\/span><a href=\"https:\/\/twitter.com\/ShibInformer\/status\/86012417?\" rel=\"nofollow\"><span style=\"font-weight: 400\">shared<\/span><\/a><span style=\"font-weight: 400\"> a screenshot of Sharium\u2019s interface of the network\u2019s token burning mechanism.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/why-bitcoin-may-have-completed-the-perfect-pullback\/?swcfpc=1\">Why Bitcoin May Have Completed The \u201cPerfect\u201d Pullback<\/a><\/div>\n<p><span style=\"font-weight: 400\">Users can initiate a burning process if the locked BONE exceeds 10 BONE. <\/span><span style=\"font-weight: 400\">The network will automatically convert the locked tokens to SHIB coins and transfer them to the protocol\u2019s dead wallet.<\/span><\/p>\n<h3>SHIB Price Gains, Increasing Whale Activities<\/h3>\n<p><span style=\"font-weight: 400\">At the time of writing, Shiba Inu is <\/span><span style=\"font-weight: 400\">trading<\/span><span style=\"font-weight: 400\"> at $0.00000890, indicating an increase of 1.46% over the past 24 hours.<\/span><\/p>\n<figure id=\"attachment_534540\" aria-describedby=\"caption-attachment-534540\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-534540 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/05\/SHIBUSDT_2023-05-23_08-16-21.png?resize=860%2C370\" alt=\"Shiba Inu\" width=\"860\" height=\"370\"><figcaption id=\"caption-attachment-534540\" class=\"wp-caption-text\">SHIB rises by over 1% l Source: <a href=\"https:\/\/www.tradingview.com\/x\/d7BO6epC\/\" rel=\"nofollow\">Tradingview.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The value of SHIB saw a slight gain over the weekend after it fell from $0.00000873 to $0.00000871 on May 19. <\/span><span style=\"font-weight: 400\">The meme coin has been trying to sustain its hold throughout the bearish wave on Sunday.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following Shiba Inu\u2019s price gain during the weekend, data from analytics firm, <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/SHIB\" rel=\"nofollow\"><span style=\"font-weight: 400\">IntoTheBlock<\/span><\/a><span style=\"font-weight: 400\"> revealed that more SHIB whales amassed the token.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the data, investors grabbed over 26.2 trillion SHIB tokens over the past weeks. <\/span><span style=\"font-weight: 400\">Also, some whales sold their Shiba Inu holdings, with a cumulative value of 300 billion SHIB coins disposed of.<\/span><\/p>\n<p><em>-Featured image from Pexels and chart from Tradingview.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a few days of stagnation, the Shiba Inu community seems to have picked up its token-burning mechanism. A report from Shiba Inu\u2019s token burn aggregator, Shibburn, indicates that the SHIB Army has significantly raised the burning rates within the past 24 hours. The data showed that the community destroyed 50.18 million SHIB tokens in 24 hours. SHIB Burn Rate Picks Up After Some Days Of Decline The SHIB burn rate surged 8,627% over the past 24 hours compared to the previous day.\u00a0The burning process was completed through two transfers: the burn of 39,511,911 and 10,676,779 SHIB tokens. Cumulatively, the community moved about 3.09 billion SHIB tokens to the dead wallet within the past week. As of Saturday, May 20, the Shiba Inu burn rate for the week showed a surge of 666% for the past week. Related Reading: Bitcoin Price Double Fractal Points To \u201cExtended\u201d Parabolic Rally Further, the Shiburn website shows the Shiba Inu community collectively destroyed 410,642,087,431,967 SHIB tokens.\u00a0Currently, the meme coin has about 574,308,140,003,340 SHIB coins as its total circulating supply. Shibarium Token Burn Details Excites The SHIB Army The layer 2 solution network of Shiba Inu, Shibarium, has made tremendous progress while still in the beta-test phase. The Shiba Inu team, under the leadership of the pseudonymous Shytoshi Kusama, disclosed the SHIB burning mechanism on Shibarium. According to details, fees for all transactions completed on Shibarium are paid in BONE.\u00a0The basic fees for all transactions are locked on a contract on the network, while the validators will get priority fees. The network will set aside a total of 30% of the fees for maintenance purposes. However, it will burn the remaining 70% of the fees.\u00a0 A Twitter user, SHIB INFORMER, shared a screenshot of Sharium\u2019s interface of the network\u2019s token burning mechanism. Related Reading: Why Bitcoin May Have Completed The \u201cPerfect\u201d Pullback Users can initiate a burning process if the locked BONE exceeds 10 BONE. The network will automatically convert the locked tokens to SHIB coins and transfer them to the protocol\u2019s dead wallet. SHIB Price Gains, Increasing Whale Activities At the time of writing, Shiba Inu is trading at $0.00000890, indicating an increase of 1.46% over the past 24 hours. The value of SHIB saw a slight gain over the weekend after it fell from $0.00000873 to $0.00000871 on May 19. The meme coin has been trying to sustain its hold throughout the bearish wave on Sunday. Following Shiba Inu\u2019s price gain during the weekend, data from analytics firm, IntoTheBlock revealed that more SHIB whales amassed the token.\u00a0 According to the data, investors grabbed over 26.2 trillion SHIB tokens over the past weeks. Also, some whales sold their Shiba Inu holdings, with a cumulative value of 300 billion SHIB coins disposed of. -Featured image from Pexels and chart from Tradingview.com<\/p>\n","protected":false},"author":593,"featured_media":534541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[86713,86002,83667,84558],"class_list":["post-534539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-bone","tag-shib-burn","tag-shiba-inu","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>Shiba Inu Burn Rate Spikes After A Few Stagnant Days<\/title>\n<meta name=\"description\" content=\"After a few days of stagnation, the Shiba Inu community seems to have picked up its token-burning mechanism. 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