{"id":552560,"date":"2023-09-22T23:00:44","date_gmt":"2023-09-22T23:00:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=552560"},"modified":"2024-06-11T07:48:00","modified_gmt":"2024-06-11T07:48:00","slug":"shiba-inu-burn-rate-627","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-627\/","title":{"rendered":"Shiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump"},"content":{"rendered":"

Shiba Inu has seen an impressive recovery in its burn rate after recording a slow start to the week. The recent acceleration could suggest that investors are once again rousing and choosing to actively contribute to the reduction of supply which could lead to an increase in price.<\/p>\n

Shiba Inu Burn Rate Rises 627%<\/h2>\n

Thursday, September 21, has proven to be one of the best weeks for the meme coin in terms of its burn rate<\/a>. According to Shiba Inu burn tracking website Shibburn, the cryptocurrency saw a 6277% jump in its burn rate in the space of 24 hours.<\/p>\n

Related Reading: Is Cardano (ADA) The Worst Investment Of 2023? Here\u2019s What The Data Says<\/a><\/div>\n

This acceleration in the burn rate has seen more than 194 million tokens incinerated in the one-day period across multiple transactions. A number of these transactions carried reasonable amounts of tokens in the millions. However, one transaction stands out as the major reason behind the spike in burn rate.<\/p>\n

\"Shiba<\/p>\n

Burn rate up 627% in one day | Source: Shibburn<\/a><\/pre>\n
A single transaction was seen carrying over 137 million tokens to the burn addresses. This transaction alone was enough to match the previous day\u2019s figures, and with more contributions from the community, the total tokens burned in the last 24 hours is closing in on 200 million.<\/p>\n
The burn rate is also up 31.62% in the last week as well. Shibbrun reports that more than 653 million tokens have been burned in this seven-day period. As of the time of writing, there are 410,659,642,147,703 SHIB<\/a> tokens sitting in the burn address.<\/p>\n
\n
HOURLY SHIB UPDATE$SHIB<\/a> Price: $0.00000727 (1hr -0.01% \u25bc | 24hr -0.37% \u25bc )
\nMarket Cap: $4,282,495,643 (-0.34% \u25bc)
\nTotal Supply: 589,340,357,852,296<\/p>\n
TOKENS BURNT
\nPast 24Hrs: 194,116,333 (627.43% \u25b2)
\nPast 7 Days: 653,032,836 (39.5% \u25b2)<\/p>\n
\u2014 Shibburn (@shibburn) September 22, 2023<\/a><\/p><\/blockquote>\n
Shibarium Takes Center Stage<\/h2>\n
The recovery in burn rate could be attributed to the rising interest in the Ethereum Layer 2 blockchain Shibarium<\/a>. Launched less than a month ago, the blockchain has already marked some impressive milestones<\/a> since then.<\/p>\n
One of the major milestones is the fact that the total transactions on the network have already crossed the 3 million mark. Additionally, wallet addresses on the blockchain crossed 1.25 million with daily transactions sitting above 42,000.<\/p>\n
Related Reading: Shiba Inu Update: 530% Spike In Shibarium Metric Could Trigger SHIB Recovery<\/a><\/div>\n
The network has, so far, produced more than 760 blocks while gas fees remain low at 1.55 Gwei. The network also saw a spike in new verified contracts<\/a> earlier in the week, suggesting that more developers are choosing to build on the network.<\/p>\n
Shiba Inu lead marketer Lucie also took to X (formerly Twitter) to urge<\/a> investors to use decentralized exchanges (DEXes) on the network instead of centralized exchanges. According to her, doing so would help accelerate the SHIB burn since the burns are set per transaction. So a rise in usage and transactions would translate to more tokens being burned.<\/p>\n
\"Shiba<\/p>\n
SHIB price holding $0.0000072 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Analytics Insight, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu has seen an impressive recovery in its burn rate after recording a slow start to the week. The recent acceleration could suggest that investors are once again rousing and choosing to actively contribute to the reduction of supply which could lead to an increase in price. Shiba Inu Burn Rate Rises 627% Thursday, September 21, has proven to be one of the best weeks for the meme coin in terms of its burn rate. According to Shiba Inu burn tracking website Shibburn, the cryptocurrency saw a 6277% jump in its burn rate in the space of 24 hours. Related Reading: Is Cardano (ADA) The Worst Investment Of 2023? Here\u2019s What The Data Says This acceleration in the burn rate has seen more than 194 million tokens incinerated in the one-day period across multiple transactions. A number of these transactions carried reasonable amounts of tokens in the millions. However, one transaction stands out as the major reason behind the spike in burn rate. Burn rate up 627% in one day | Source: Shibburn A single transaction was seen carrying over 137 million tokens to the burn addresses. This transaction alone was enough to match the previous day\u2019s figures, and with more contributions from the community, the total tokens burned in the last 24 hours is closing in on 200 million. The burn rate is also up 31.62% in the last week as well. Shibbrun reports that more than 653 million tokens have been burned in this seven-day period. As of the time of writing, there are 410,659,642,147,703 SHIB tokens sitting in the burn address. HOURLY SHIB UPDATE$SHIB Price: $0.00000727 (1hr -0.01% \u25bc | 24hr -0.37% \u25bc ) Market Cap: $4,282,495,643 (-0.34% \u25bc) Total Supply: 589,340,357,852,296 TOKENS BURNT Past 24Hrs: 194,116,333 (627.43% \u25b2) Past 7 Days: 653,032,836 (39.5% \u25b2) \u2014 Shibburn (@shibburn) September 22, 2023 Shibarium Takes Center Stage The recovery in burn rate could be attributed to the rising interest in the Ethereum Layer 2 blockchain Shibarium. Launched less than a month ago, the blockchain has already marked some impressive milestones since then. One of the major milestones is the fact that the total transactions on the network have already crossed the 3 million mark. Additionally, wallet addresses on the blockchain crossed 1.25 million with daily transactions sitting above 42,000. Related Reading: Shiba Inu Update: 530% Spike In Shibarium Metric Could Trigger SHIB Recovery The network has, so far, produced more than 760 blocks while gas fees remain low at 1.55 Gwei. The network also saw a spike in new verified contracts earlier in the week, suggesting that more developers are choosing to build on the network. Shiba Inu lead marketer Lucie also took to X (formerly Twitter) to urge investors to use decentralized exchanges (DEXes) on the network instead of centralized exchanges. According to her, doing so would help accelerate the SHIB burn since the burns are set per transaction. So a rise in usage and transactions would translate to more tokens being burned. SHIB price holding $0.0000072 | Source: SHIBUSD on Tradingview.com Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from Analytics Insight, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":552563,"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":[83668,86002,89178,84473,83667,89157,84562,84558],"class_list":["post-552560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-burn","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump<\/title>\n<meta name=\"description\" content=\"Shiba Inu has seen a recovery in 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump","url":"http:\/\/ktsl888.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-627\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-627\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/09\/Shiba-Inu-burn.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/09\/Shiba-Inu-burn.jpeg?fit=900%2C500"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shib burn","shib news","shib price","shiba inu","shiba inu news","shibusd","shibusdt"],"dateCreated":"2023-09-22T23:00:44Z","datePublished":"2023-09-22T23:00:44Z","dateModified":"2024-06-11T07:48:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-627\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-627\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Shiba-Inu-burn.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Shiba-Inu-burn.jpeg?fit=900%2C500\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shib burn\",\"shib news\",\"shib price\",\"shiba inu\",\"shiba inu news\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-09-22T23:00:44Z\",\"datePublished\":\"2023-09-22T23:00:44Z\",\"dateModified\":\"2024-06-11T07:48:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/09\/Shiba-Inu-burn.jpeg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/552560"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=552560"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/552560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/552563"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=552560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=552560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=552560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}