{"id":609003,"date":"2024-05-21T00:00:14","date_gmt":"2024-05-21T00:00:14","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=609003"},"modified":"2024-06-11T07:02:32","modified_gmt":"2024-06-11T07:02:32","slug":"despite-price-lull-shiba-inu-burn-rate-heats-up-are","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/shiba-inu-coin\/despite-price-lull-shiba-inu-burn-rate-heats-up-are\/","title":{"rendered":"Despite Price Lull, Shiba Inu Burn Rate Heats Up: Are Investors Preparing For A Mega Rally?"},"content":{"rendered":"

In a fascinating twist for the Shiba Inu (SHIB) community, the rate at which SHIB tokens are being burned has increased significantly, even as the price of the meme coin shows modest gains.<\/a><\/p>\n

Recent data from the Shibburn explorer indicates a 62.58% increase in the SHIB burn rate over the past 24 hours, with approximately 6.9 million SHIB tokens removed from circulation through 10 separate transactions.<\/p>\n

Related Reading: If This Happens, Shiba Inu Price Could Double Soon<\/a><\/div>\n

Recent SHIB Burn Events And Market Response: A Detailed Analysis<\/h2>\n

Details of the 10 transactions show that the largest single burns were 2.55 million SHIB, 1.5 million SHIB, and 1 million SHIB, respectively.<\/p>\n

In addition, over the last week, 57.6 million SHIB were burned, marking a nearly 57% decrease from the previous week, indicating a weekly burn rate in decline.<\/p>\n

\n

HOURLY SHIB UPDATE$SHIB<\/a> Price: $0.00002383 (1hr -1.77% \u25bc | 24hr -3.80% \u25bc )
\nMarket Cap: $14,172,538,490 (-2.80% \u25bc)
\nTotal Supply: 589,273,577,774,968<\/p>\n

TOKENS BURNT
\nPast 24Hrs: 6,985,600 (62.58% \u25b2)
\nPast 7 Days: 57,671,544 (-56.28% \u25bc)<\/p>\n

\u2014 Shibburn (@shibburn) May 20, 2024<\/a><\/p><\/blockquote>\n

Despite this aggressive approach to reducing supply recorded in the past day, Shiba Inu\u2019s price has not mirrored the enthusiasm seen in the burn rate. Currently, SHIB has seen a modest increase<\/a>, up by 0.1% over the last 24 hours and 1.6% over the past week.<\/p>\n

\"Shiba
SHIB price is moving sideways on the 4-hour chart. Source: SHIB\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

This performance is less pronounced than that of other meme coins like PEPE, BOME, and FLOKI, which have seen increases of 11.6%, 8.9%, and 6.5%, respectively, over the same seven-day period.<\/p>\n

Meanwhile, the total SHIB burned since the token’s inception now stands<\/a> at approximately 410.73 trillion SHIB, a significant chunk of the initial quadrillion supply created by the anonymous founder Ryoshi in 2020.<\/p>\n

The current circulating supply of Shiba Inu is around 582.99 trillion SHIB, with an additional 6.28 trillion SHIB locked in various staking platforms.<\/p>\n

Shibarium’s Downturn and Bullish Predictions for Shiba Inu Price<\/h2>\n

On the other hand, the Shibarium layer-2 solution, designed to enhance Shiba Inu’s scalability and efficiency, is experiencing a slowdown in on-chain activity.<\/p>\n

The daily transaction count has dropped to 11.91k, a sharp decrease of more than 90% from the 121.91k transactions recorded in the middle of last month.<\/p>\n

\"Shibarium
Shibarium number of daily transactions. | Source: Shibarium Scan<\/a><\/figcaption><\/figure>\n

This blockchain platform’s total number of transfers has reached 417.50 million, with 1.8 million wallets currently connected.<\/p>\n

Despite all these, crypto expert Dami Defi has shared an optimistic outlook for Shiba Inu’s price action. The analyst noted that the meme coin has formed a descending wedge pattern in the one-day timeframe.<\/p>\n

Related Reading: Shiba Inu Price Makes Decisive Move: Is Now The Ideal Time To Buy?<\/a><\/div>\n

According to Dami Defi’s analysis, a breakout from this pattern could potentially lead to a surge of over 50% in SHIB’s price, pushing it to around the $0.000035 level.<\/p>\n

\n

$SHIB<\/a> formed a falling wedge pattern on the 1D time frame<\/p>\n

If we breakout, a price pump of 50% + is expected \ud83d\udcc8<\/p>\n

Memeseason continues. pic.twitter.com\/kgA353oLZK<\/a><\/p>\n

\u2014 Dami-Defi (@DamiDefi) May 15, 2024<\/a><\/p><\/blockquote>\n

Featured image created with DALL\u00b7E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

In a fascinating twist for the Shiba Inu (SHIB) community, the rate at which SHIB tokens are being burned has increased significantly, even as the price of the meme coin shows modest gains. Recent data from the Shibburn explorer indicates a 62.58% increase in the SHIB burn rate over the past 24 hours, with approximately 6.9 million SHIB tokens removed from circulation through 10 separate transactions. Related Reading: If This Happens, Shiba Inu Price Could Double Soon Recent SHIB Burn Events And Market Response: A Detailed Analysis Details of the 10 transactions show that the largest single burns were 2.55 million SHIB, 1.5 million SHIB, and 1 million SHIB, respectively. In addition, over the last week, 57.6 million SHIB were burned, marking a nearly 57% decrease from the previous week, indicating a weekly burn rate in decline. HOURLY SHIB UPDATE$SHIB Price: $0.00002383 (1hr -1.77% \u25bc | 24hr -3.80% \u25bc ) Market Cap: $14,172,538,490 (-2.80% \u25bc) Total Supply: 589,273,577,774,968 TOKENS BURNT Past 24Hrs: 6,985,600 (62.58% \u25b2) Past 7 Days: 57,671,544 (-56.28% \u25bc) \u2014 Shibburn (@shibburn) May 20, 2024 Despite this aggressive approach to reducing supply recorded in the past day, Shiba Inu\u2019s price has not mirrored the enthusiasm seen in the burn rate. Currently, SHIB has seen a modest increase, up by 0.1% over the last 24 hours and 1.6% over the past week. This performance is less pronounced than that of other meme coins like PEPE, BOME, and FLOKI, which have seen increases of 11.6%, 8.9%, and 6.5%, respectively, over the same seven-day period. Meanwhile, the total SHIB burned since the token’s inception now stands at approximately 410.73 trillion SHIB, a significant chunk of the initial quadrillion supply created by the anonymous founder Ryoshi in 2020. The current circulating supply of Shiba Inu is around 582.99 trillion SHIB, with an additional 6.28 trillion SHIB locked in various staking platforms. Shibarium’s Downturn and Bullish Predictions for Shiba Inu Price On the other hand, the Shibarium layer-2 solution, designed to enhance Shiba Inu’s scalability and efficiency, is experiencing a slowdown in on-chain activity. The daily transaction count has dropped to 11.91k, a sharp decrease of more than 90% from the 121.91k transactions recorded in the middle of last month. This blockchain platform’s total number of transfers has reached 417.50 million, with 1.8 million wallets currently connected. Despite all these, crypto expert Dami Defi has shared an optimistic outlook for Shiba Inu’s price action. The analyst noted that the meme coin has formed a descending wedge pattern in the one-day timeframe. Related Reading: Shiba Inu Price Makes Decisive Move: Is Now The Ideal Time To Buy? According to Dami Defi’s analysis, a breakout from this pattern could potentially lead to a surge of over 50% in SHIB’s price, pushing it to around the $0.000035 level. $SHIB formed a falling wedge pattern on the 1D time frame If we breakout, a price pump of 50% + is expected \ud83d\udcc8 Memeseason continues. pic.twitter.com\/kgA353oLZK \u2014 Dami-Defi (@DamiDefi) May 15, 2024 Featured image created with DALL\u00b7E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":609011,"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":[6664,83668,83667,92330,89823,91436,84558],"class_list":["post-609003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-crypto","tag-shib","tag-shiba-inu","tag-shiba-inu-analysis","tag-shiba-inu-burn-rate","tag-shiba-inu-prediction","tag-shibusdt"],"acf":[],"yoast_head":"\nDespite Price Lull, Shiba Inu Burn Rate Heats Up: Are Investors Preparing For A Mega Rally?<\/title>\n<meta name=\"description\" content=\"In a fascinating twist for the Shiba Inu (SHIB) community, the rate at which SHIB tokens are being burned has increased significantly...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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