Despite Price Lull, Shiba Inu Burn Rate Heats Up: Are Investors Preparing For A Mega Rally?

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 [...]

The post Despite Price Lull, Shiba Inu Burn Rate Heats Up: Are Investors Preparing For A Mega Rally? appeared first on Crypto Breaking News.

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Shiba Inu On The Rise: Analysts Predict a Potential Target of $0.0000445

Shiba Inu (SHIB), a well-liked meme-oriented cryptocurrency, has passed through a lull period. After being quiet for some time, its value is on the rise again. Shiba Inus price currently stands at $0.00002367, with a trading volume of $334.98 million over the last 24 hours. Also, its total market capitalization reaches $13.95 billion for Shiba […]

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Shiba Inu Mania: Price Surges 60% As Burn Rate Heats Up Over 22,000%

Shiba Inu (SHIB), the self-proclaimed “Dogecoin Killer,” has the crypto world buzzing once again. This meme coin, forever linked to the adorable Shiba Inu dog breed, has witnessed a meteoric rise in both price and burn rate, igniting a passionate fire within its devoted “Shiba Army” community. But beneath the current frenzy lies a crucial question: can Shiba Inu transform itself from a playful pup into a respected player in the ever-evolving cryptocurrency game? Related Reading: Ethereum Wallets Overflow: Over 90% Addresses In Profit, Ether To Retest ATH Shiba Inu Burns Bright: Can It Melt The Ice Of Skepticism? The recent surge stems from a staggering 22,432% increase in the burn rate over a 24-hour period, according to Shibburn, a platform dedicated to tracking SHIB transactions. This translates to a colossal 14 billion SHIB tokens being sent to a “dead wallet,” effectively removing them from circulation. Proponents hail this decrease in supply as a catalyst for long-term price appreciation, echoing the basic economic principle of scarcity driving demand. Source: Shibburn However, seasoned crypto veterans remain cautious. The dramatic rise is based on data from a limited timeframe (one week, one day), and the cryptocurrency market is infamous for its hair-trigger volatility. This rapid price increase could very well be a bubble on the verge of bursting, leading to a sharp correction. Additionally, the “meme coin” label itself carries a certain stigma. Meme coins, often lighthearted parodies, tend to be more speculative and prone to wild price swings compared to established cryptocurrencies with underlying utility. SHIB market cap currently at $20 billion. Chart: TradingView.com Shiba Army Marches On Despite the skepticism, the Shiba Inu community, affectionately known as the “Shiba Army,” pulsates with unwavering enthusiasm. They’ve been instrumental in the burning initiative, actively contributing to the surge. Furthermore, recent hints from Kusama, the lead developer of Leash (another token within the Shiba Inu ecosystem), regarding a potential token burn have further stoked the flames of community spirit. This dedicated fanbase is a powerful force, capable of influencing market sentiment and potentially propelling the price upwards. Related Reading: Bitcoin Bulls On Alert: Top Analyst Anticipates A Big Spike In The Cards A Look Beyond The Hype The future of Shiba Inu remains shrouded in uncertainty. The short-term outlook appears bullish, with some analysts predicting a surge towards $0.0001. However, long-term sustainability hinges on several crucial factors. The success of Shibarium, the upcoming layer-2 blockchain specifically designed for SHIB, will be a major determining factor. Furthermore, developing real-world use cases that extend beyond mere speculation is essential for Shiba Inu to shed its meme coin label and establish itself as a serious contender in the ever-evolving cryptocurrency landscape. Featured image from Nguyen Duc Khoi/Unsplash, chart from TradingView

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100% Free BTFD Coins? Last Days to Apply LAUNCH100 at $0.0002Top New Meme Coins to Join This Week as SHIB Burns Big and FLOKI Cuts Fees!

Floki spikes, SHIB burns billionsbut BTFD Coins 100% bonus ends soon! Join the top new meme coins to join this week before its too late!

The post 100% Free BTFD Coins? Last Days to Apply LAUNCH100 at $0.0002Top New Meme Coins to Join This Week as SHIB Burns Big and FLOKI Cuts Fees! appeared first on Kanalcoin.

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Shiba Inu Burn Rate Slowed Down Due To This

In the past week, Shiba Inu has burnt over 98 million SHIB tokens from circulation through thirty-six separate transactions. The highest burn occurred on February 13th when an anonymous Binance client sent a whopping 39 million SHIB to the dead wallet through seven transactions. Typically, SHIB Super Store plays a significant role in weekly burns. According to […]

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Shiba Inu Burn Rate Soars Beyond 10,000%: Here’s What It Could Mean

The most popular dog-themed commodity on the bitcoin market made headlines once more. This time, Shiba Inu [SHIB] was in the news for its large increase in burn rate rather than for the presence of shibarium. Over the past several months, the meme token has experienced triple-digit and even four-digit price surges. The asset’s burn […]

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Shiba Inu (SHIB) Burn Rate Surges, Will it Continue?

Shiba Inu (SHIB) Burn rate surged by 1867.60%. Shiba Eternity download day postponed to October 6, 2022. Following the “Shiba

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The future of SHIB after its metaverse team expands and burn rate spikes 283%

Shiba Inu (SHIB/USD) has become one of the largest meme-coins out there in terms of both market capitalization as well as project development.

What is dubbed the Dogecoin (DOGE/USD) killer has undergone numerous developments, where the teams are expanding in the Metaverse push, alongside an increase in its burn rate.

Through an official announcement posted on the ShibaSwap’s blog on August 30, 2022, Shiba Inu announced an important update surrounding SHIB: The Metaverse. 

In it, the SHIB team announces that they have created two additional teams, which will play an integral role as an intermediary between the Shiba Inu community and the core executives of the project.

This represents the current structure constructed for the success and the development of the project:

• AAA Studio – THE THIRD FLOOR
• Expert Metaverse Advisors – Marcie Jastrow, Sherri Cuono, David Kern
• Shib: Developers & Project Lead Team – Shytoshi Kusama, Kaal Dhairya, Eric M

The main goal of creating these new teams is to establish a connection across all existing SHIB: The Metaverse structures, including the lead developers, expert advisors, and AAA studio. 

Furthermore, based on data from Shibburn posted on August 30, 2022, in the last 24 hours, there have been a total of 213,344,808 SHIB tokens burned and 14 transactions, which indicates that it has rocketed by 283% in the last 24 hours. 

On August 30, 2022, Shiba Inu (SHIB) cryptocurrency had a value of $0.00001267.

When we go over its all-time high, on October 28, 2021, SHIB was worth $0.00008616.

However, when we take a look at how the cryptocurrency performed throughout the previous month, 

The lowest point of value for the SHIB cryptocurrency was on July 3 at $0.000009839.

Its highest point of value was on July 20 at $0.00001297.

Here we can see an increase in its value by $0.000003131 or by 32%.

With this in mind, investors might want to buy SHIB, as the cryptocurrency can reach a value of $0.00003 by the end of September 2022.

The post The future of SHIB after its metaverse team expands and burn rate spikes 283% appeared first on Invezz.

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Ethereum burning spikes to new high on Yuga Labs’ NFT hype

Otherdeed NFTs top the “burn leaderboard” over the past seven days at roughly 55,816 ETH or 56% of all burns during that period.

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Shiba Inu Token Burn Hits 1.74 Billion In One Week, What’s The Current Status?

The Shiba Inu community has remained consistent in burning SHIB tokens. In a week, it sent a whopping 1,748,403,277 SHIB tokens to the project’s dead wallet. The burning mechanism is part of the processes that the Shiba Inu uses to maintain stability in its ecosystem. It is a strong measure to reclaim the value of [...]

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Shiba Inu Burn Rate Soars Over 1300% as SHIB Shows Price Recovery

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Ethereum inflation rises, threatens ultrasound money status: Report

Ethereums inflation rate hit a two-year high as layer-2 solutions curb transaction burns, challenging its deflationary promise, according to a new Binance Research report.

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Will Shiba Inus 1436% Burn Rate Surge Spark a Bullish Breakout?

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Shiba Inu Burn Rate Surges by HUGE 1300%: Whats Next for SHIB Price?

It's a burning spree that's set the crypto community on fire with excitement. Will the SHIB price increase?

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Shiba Inu’s Burn Rate Drops 30%, But There’s A Surprise In Store

Following a blistering weekend, Shiba Inu’s burn rate has taken a step back to post a drop of 30% over the course of the day. According to the latest data from shibburn, in the past 24 hours, a total of 73,972,026 SHIB tokens were incinerated and sent to dead wallets in 3 transactions. Tokens are […]

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Shiba Inu Burn Rate Explodes 31,000% – Will Price Heat Up As Well?

Shiba Inu (SHIB) has seen its burn rate skyrocket to impressive heights. This incredible surge in burn rate is causing many to speculate that a price reversal may be on the horizon, as the token’s value continues to experience significant volatility.  As the burn rate of Shiba Inu continues to soar, the cryptocurrency’s fate remains uncertain, leaving investors and enthusiasts alike wondering what the future holds for this meme-inspired token.    Will Shiba Inu be able to maintain its momentum and reach new heights, or will the current volatility lead to a dramatic price u-turn? Related Reading: AVAX Smart Contracts Hit 6-Month High – What This Means For Its Price Shiba Inu Burn Rate Climbs, Signaling Potential For Price Reversal Shiba Inu, the popular cryptocurrency inspired by the Shiba Inu dog breed, has experienced an astonishing 30,940% surge in burn rate at the time of writing, according to Shibburn’s data at the time of writing. But what exactly does “burn rate” mean in the context of cryptocurrencies? In simple terms, the burn rate refers to the amount of tokens that are permanently removed from circulation. When a cryptocurrency “burns” tokens, they are essentially destroyed, which can have the effect of increasing the value of the remaining tokens.  In the case of Shiba Inu, the massive surge in burn rate is an indication that more tokens are being removed from circulation than ever before, which could potentially lead to a supply shortage and a subsequent increase in value. Based on the data presented, the Shiba Inu ecosystem is experiencing exponential growth in the number of total transactions, resulting in a significant transfer of 2,254,093,318 SHIB tokens to inactive or “dead” wallets overnight. SHIB total market cap at 5.8 billion on the daily chart at TradingView.com Related Reading: Top 5 Cryptos To Watch This Week Amid US Banking Crisis The sudden transfer of tokens to dead wallets is believed to be a response to the rapid surge in transaction activity within the ecosystem. The data highlights two specific addresses that were responsible for a large portion of the transaction volume. One address was used to “burn” 2,005,265,274 SHIB tokens, effectively removing them from circulation permanently. The other address burnt 246,743,138 SHIB tokens, contributing to the overall reduction in circulating supply. Where Shiba Inu Stands Right Now At the time of writing, the price of SHIB on CoinMarketCap stands at $0.00001005, with a 24-hour rally of 0.83%, while experiencing a decline of 2.37% over the last seven days. Despite the massive surge in the burn rate of Shiba Inu tokens, the price of SHIB has shown little movement. Source: CoinMarketCap One possible explanation is that the market has already priced in the impact of the burn rate, and therefore, the current token burn rate is not enough to move the price significantly. Another factor could be the current market conditions, which have been unfavorable to many cryptocurrencies, including Shiba Inu. Furthermore, the sheer number of SHIB tokens in circulation could be another contributing factor to the price stagnation. With a circulating supply of over 394 trillion SHIB tokens, any changes in the token burn rate would need to be substantial to affect the overall supply and demand dynamics of the market. -Featured image from Picography

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