{"id":507715,"date":"2022-10-25T08:44:41","date_gmt":"2022-10-25T08:44:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=507715"},"modified":"2022-10-25T08:44:41","modified_gmt":"2022-10-25T08:44:41","slug":"shiba-inu-burn-rate-spikes-by-1860-why-investors-should-keep-an-eye-on-this","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-burn-rate-spikes-by-1860-why-investors-should-keep-an-eye-on-this\/","title":{"rendered":"Shiba Inu Burn Rate Spikes By 1,860% &#8211; Why Investors Should Take Note Of This"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Shiba Inu, a cryptocurrency that is a spin-off of dog-themed crypto Dogecoin, is counting on massive token burning rates to stop its decline.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Over the last 24 hours, over 45 million SHIB Tokens were burned<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">During the same time frame, Shiba Inu failed to increase its trading price<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Analysts think the asset might \u201cdie\u201d by the end of 2023<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">But despite the <\/span><a href=\"https:\/\/u.today\/shib-burn-rate-suddenly-jumps-1494-heres-likely-explanation\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">destruction<\/span><\/a><span style=\"font-weight: 400\"> of around 410 trillion of its supply since its introduction to the crypto space, SHIB failed to make any kind of rally as it continues to paint its charts in crimson.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Over the last 24 hours, there were over 45 million Shiba Inu tokens that were burned. That accounted for an impressive 1,860% spike in the asset\u2019s burn activity.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This, however, failed to help the altcoin as it is price dropped during the same time period. At the time of this writing, the asset was trading at $0.00000997, based on tracking from <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/shiba-inu\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Coingecko<\/span><\/a><span style=\"font-weight: 400\">. It\u2019s been down by 4.3% for the past week and 11.4% over the last 30 days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The crypto\u2019s community pinned their hopes on reducing its supply to stop it from experiencing another decline. That did not happen and investors are now cautioned to pay attention to SHIB\u2019s metrics to know where the novelty digital coin is headed right now.<\/span><\/p>\n<h2><b>What Awaits SHIB In The Next Coming Days<\/b><\/h2>\n<p><span style=\"font-weight: 400\">While traders are still buying Shiba Inu, they are not holding the asset for long. Instead, they are using it to trade.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/litecoin-registers-over-1-million-in-whale-transactions\/\" target=\"_blank\" rel=\"noopener \">Litecoin Registers Over $1 Million In Whale Transactions For 2022 \u2013 Good News For LTC?<\/a><\/div>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-507719 size-jnews-featured-750\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/c1-40.png?resize=750%2C341\" alt=\"\" width=\"750\" height=\"341\"><span style=\"font-weight: 400\">Source: TradingView<\/span><\/pre>\n<p><span style=\"font-weight: 400\">This is reflected in the crypto\u2019s Accumulation and Distribution Line (ADL) which stood at 97.95 trillion. This level has helped the altcoin to establish the crucial $0.00000994 <\/span><a href=\"https:\/\/ambcrypto.com\/shiba-inu-shib-why-investors-should-closely-watch-the-latest-burn-reaction\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">support<\/span><\/a><span style=\"font-weight: 400\"> marker.<\/span><\/p>\n<p><span style=\"font-weight: 400\">More bad news for holders as SHIB\u2019s Directional Movement Index (DMI) hints at its apparent fall to bears once again.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, the virtual currency\u2019s Average Directional Index (ADI) at 23.58. If this number goes up over the next few days, it would put investors in a very difficult position to gain even just short-term profit.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, prediction for Shiba Inu from <\/span><a href=\"https:\/\/coincodex.com\/crypto\/shiba-inu\/price-prediction\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Coincodex<\/span><\/a><span style=\"font-weight: 400\"> reveals the cryptocurrency will maintain its current trading price over the next five days but will eventually decline to $0.00000556 30 days from now.<\/span><\/p>\n<h2><b>Shiba Inu Could Be Gone Next Year?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Some experts are predicting that SHIB, as a cryptocurrency, will <\/span><a href=\"https:\/\/www.analyticsinsight.net\/is-shiba-inu-dead-this-new-meme-coin-has-attracted-whale-investors-for-potential-gains\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">die<\/span><\/a><span style=\"font-weight: 400\"> by the end of 2023 and there are very good reasons this might prove true.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For one, at present, there is no viable utility for the crypto asset and because of that, network activity and development won\u2019t come as often as investors would want to.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The altcoin is also experiencing high supply inflation rate at 7.93%. Despite having a circulating supply that is close to 1 quadrillion, coins available for trading are very limited.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the burn mechanics that was thought to help in initiating price rallies for SHIB failed to meet the expectations of the asset\u2019s community.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Investors must keep a close watch of Shiba Inu as it might be closing in on being a \u201cdead\u201d cryptocurrency.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/dogechain-dc-notches-200-hike-in-trading-value\/\" target=\"_blank\" rel=\"noopener \">Dogechain (DC) Notches 200% Hike In Trading Value In The Past Week<\/a><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/2jGODYe9\/\" width=\"1834\" height=\"875\"><\/p>\n<pre style=\"text-align: center\">SHIB total market cap at $5.46 billion on the daily chart | Featured image from Coopers Fire, Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu, a cryptocurrency that is a spin-off of dog-themed crypto Dogecoin, is counting on massive token burning rates to stop its decline. Over the last 24 hours, over 45 million SHIB Tokens were burned During the same time frame, Shiba Inu failed to increase its trading price Analysts think the asset might \u201cdie\u201d by the end of 2023 But despite the destruction of around 410 trillion of its supply since its introduction to the crypto space, SHIB failed to make any kind of rally as it continues to paint its charts in crimson. Over the last 24 hours, there were over 45 million Shiba Inu tokens that were burned. That accounted for an impressive 1,860% spike in the asset\u2019s burn activity. This, however, failed to help the altcoin as it is price dropped during the same time period. At the time of this writing, the asset was trading at $0.00000997, based on tracking from Coingecko. It\u2019s been down by 4.3% for the past week and 11.4% over the last 30 days. The crypto\u2019s community pinned their hopes on reducing its supply to stop it from experiencing another decline. That did not happen and investors are now cautioned to pay attention to SHIB\u2019s metrics to know where the novelty digital coin is headed right now. What Awaits SHIB In The Next Coming Days While traders are still buying Shiba Inu, they are not holding the asset for long. Instead, they are using it to trade. Related Reading: Litecoin Registers Over $1 Million In Whale Transactions For 2022 \u2013 Good News For LTC? Source: TradingView This is reflected in the crypto\u2019s Accumulation and Distribution Line (ADL) which stood at 97.95 trillion. This level has helped the altcoin to establish the crucial $0.00000994 support marker. More bad news for holders as SHIB\u2019s Directional Movement Index (DMI) hints at its apparent fall to bears once again. Moreover, the virtual currency\u2019s Average Directional Index (ADI) at 23.58. If this number goes up over the next few days, it would put investors in a very difficult position to gain even just short-term profit. Meanwhile, prediction for Shiba Inu from Coincodex reveals the cryptocurrency will maintain its current trading price over the next five days but will eventually decline to $0.00000556 30 days from now. Shiba Inu Could Be Gone Next Year? Some experts are predicting that SHIB, as a cryptocurrency, will die by the end of 2023 and there are very good reasons this might prove true. For one, at present, there is no viable utility for the crypto asset and because of that, network activity and development won\u2019t come as often as investors would want to. The altcoin is also experiencing high supply inflation rate at 7.93%. Despite having a circulating supply that is close to 1 quadrillion, coins available for trading are very limited. Furthermore, the burn mechanics that was thought to help in initiating price rallies for SHIB failed to meet the expectations of the asset\u2019s community. Investors must keep a close watch of Shiba Inu as it might be closing in on being a \u201cdead\u201d cryptocurrency. Related Reading: Dogechain (DC) Notches 200% Hike In Trading Value In The Past Week SHIB total market cap at $5.46 billion on the daily chart | Featured image from Coopers Fire, Chart: TradingView.com Disclaimer: The analysis represents the author&#8217;s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":507721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,6664,1558,8323,1946,8686,83668,83667],"class_list":["post-507715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto","tag-cryptocurrency","tag-eth","tag-ethereum","tag-ethusd","tag-shib","tag-shiba-inu"],"acf":[],"yoast_head":"\n<title>Shiba Inu Burn Rate Has Just Spiked By An Impressive 1,860%<\/title>\n<meta name=\"description\" content=\"Shiba Inu, a cryptocurrency that is a spin-off of dog-themed crypto Dogecoin, is counting on massive token burning rates to remain afloat.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/shiba-inu-burn-rate-spikes-by-1860-why-investors-should-keep-an-eye-on-this\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu Burn Rate Has Just Spiked By An Impressive 1,860%\" \/>\n<meta property=\"og:description\" content=\"Shiba Inu, a cryptocurrency that is a spin-off of dog-themed crypto Dogecoin, is counting on massive token burning rates to remain afloat.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/shiba-inu-burn-rate-spikes-by-1860-why-investors-should-keep-an-eye-on-this\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-25T08:44:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Shiba-Inu-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"921\" \/>\n\t<meta property=\"og:image:height\" content=\"496\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/shiba-inu-burn-rate-spikes-by-1860-why-investors-should-keep-an-eye-on-this\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/shiba-inu-burn-rate-spikes-by-1860-why-investors-should-keep-an-eye-on-this\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Shiba Inu Burn Rate Spikes By 1,860% &#8211; 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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