{"id":559748,"date":"2023-11-08T23:00:54","date_gmt":"2023-11-08T23:00:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=559748"},"modified":"2024-06-11T07:48:03","modified_gmt":"2024-06-11T07:48:03","slug":"shiba-inu-burn-rate-99-35","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-99-35\/","title":{"rendered":"Shiba Inu Burn Rate Flatlines With 99.35% Drop, Here\u2019s Why"},"content":{"rendered":"

Shiba Inu has seen its burn rate basically flatlined in the last after recording one of its highest jumps in history. The 99% decline in the SHIB burn rate raises concerns over the involvement of the community and whether burning SHIB tokens has lost its appeal.<\/p>\n

SHIB Burn Rate Declines 99.35%<\/h2>\n

Shibburn data on Wednesday, November 8, shows a 99.35% decline in the Shiba Inu burn rate<\/a> in the last 24 hours. The burning of Shiba Inu tokens<\/a> is an effort to drastically reduce the supply but interest seems to be waning, especially since the burn seems to have no effect on the price.<\/p>\n

Related Reading: Crypto Analyst Says XRP Price Has Entered Markup Phase, Why This Is Important<\/a><\/div>\n

Only 1.12 million tokens were burned in the 24-hour period, a very low number for a full day. However, the previous day\u2019s activities also contributed to making this burn figure look incredibly small. On Tuesday, November 7, Shiba Inu marketing lead, Lucie<\/a>, revealed<\/a> the Shib Dream team had burned 550 million SHIB, leading to an over 14,000% surge in the burn rate.<\/p>\n

\n

#Shibarium<\/a> Projects \u2665\ufe0f$SHIB<\/a> BURNS https:\/\/t.co\/Q9OXhl3QSX<\/a><\/p>\n

\u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 | \u2728Shib.io\u2728 (@LucieSHIB) November 7, 2023<\/a><\/p><\/blockquote>\n

Given this incredibly high burn figure spiking the burn rate, the numbers for Wednesday pale in comparison. In total, there were 10 Shiba Inu burn transactions<\/a> recorded on the blockchain, with the largest transaction carrying only 553,521 tokens.<\/p>\n

The daily burn rate is not the only one that has taken a hit though as the weekly timeframe has not fared well. With the burn figure sitting<\/a> at 308.74 million in the last 7 days, the SHIB burn rate is down 35.44% on the weekly timeframe.<\/p>\n

\"Shiba<\/p>\n

SHIB price rests at $0.0000082 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Shiba Inu Layer 2 Follows Downtrend<\/h2>\n
As the Shiba Inu burn rate falls<\/a>, its Layer 2 Shibarium network has seen a decline in its operations as well. ShibariumScan data shows that the daily transactions for the last 24 hours are 9,930 transactions, making it the first time that the transaction count has fallen below 10,000 since the network was launched<\/p>\n
Related Reading: Top 3 Altcoins For November 2023 That Could 100x Your Crypto Portfolio<\/a><\/div>\n
This decline in the number of daily transactions could suggest that investor participation is declining on the network. And a drop in transaction count could have a ripple effect across the entire network. It could also contribute to a decreased burn rate.<\/p>\n
As for the SHIB price<\/a>, it continues to demonstrate strength in the market after recovering above $0.000008 once more. Its gains for the last day come out to 1% but is seeing much higher gains of 7.63% on the weekly chart.<\/p>\n
Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from CoinMarketCap, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu has seen its burn rate basically flatlined in the last after recording one of its highest jumps in history. The 99% decline in the SHIB burn rate raises concerns over the involvement of the community and whether burning SHIB tokens has lost its appeal. SHIB Burn Rate Declines 99.35% Shibburn data on Wednesday, November 8, shows a 99.35% decline in the Shiba Inu burn rate in the last 24 hours. The burning of Shiba Inu tokens is an effort to drastically reduce the supply but interest seems to be waning, especially since the burn seems to have no effect on the price. Related Reading: Crypto Analyst Says XRP Price Has Entered Markup Phase, Why This Is Important Only 1.12 million tokens were burned in the 24-hour period, a very low number for a full day. However, the previous day\u2019s activities also contributed to making this burn figure look incredibly small. On Tuesday, November 7, Shiba Inu marketing lead, Lucie, revealed the Shib Dream team had burned 550 million SHIB, leading to an over 14,000% surge in the burn rate. #Shibarium Projects \u2665\ufe0f$SHIB BURNS https:\/\/t.co\/Q9OXhl3QSX \u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 | \u2728Shib.io\u2728 (@LucieSHIB) November 7, 2023 Given this incredibly high burn figure spiking the burn rate, the numbers for Wednesday pale in comparison. In total, there were 10 Shiba Inu burn transactions recorded on the blockchain, with the largest transaction carrying only 553,521 tokens. The daily burn rate is not the only one that has taken a hit though as the weekly timeframe has not fared well. With the burn figure sitting at 308.74 million in the last 7 days, the SHIB burn rate is down 35.44% on the weekly timeframe. SHIB price rests at $0.0000082 | Source: SHIBUSD on Tradingview.com Shiba Inu Layer 2 Follows Downtrend As the Shiba Inu burn rate falls, its Layer 2 Shibarium network has seen a decline in its operations as well. ShibariumScan data shows that the daily transactions for the last 24 hours are 9,930 transactions, making it the first time that the transaction count has fallen below 10,000 since the network was launched Related Reading: Top 3 Altcoins For November 2023 That Could 100x Your Crypto Portfolio This decline in the number of daily transactions could suggest that investor participation is declining on the network. And a drop in transaction count could have a ripple effect across the entire network. It could also contribute to a decreased burn rate. As for the SHIB price, it continues to demonstrate strength in the market after recovering above $0.000008 once more. Its gains for the last day come out to 1% but is seeing much higher gains of 7.63% on the weekly chart. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from CoinMarketCap, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":559756,"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":[83668,86002,89178,84473,83667,89913,89157,86437,84562,84558],"class_list":["post-559748","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-burns","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Burn Rate Flatlines With 99.35% Drop, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Shiba Inu has seen its burn rate 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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:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Burn Rate Flatlines With 99.35% Drop, Here\u2019s Why","url":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-99-35\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-99-35\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Shiba-Inu-SHIB-burn.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Shiba-Inu-SHIB-burn.jpeg?fit=1200%2C686"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.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 burns","shiba inu news","shiba inu price","shibusd","shibusdt"],"dateCreated":"2023-11-08T23:00:54Z","datePublished":"2023-11-08T23:00:54Z","dateModified":"2024-06-11T07:48:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Burn Rate Flatlines With 99.35% Drop, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-99-35\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-99-35\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Shiba-Inu-SHIB-burn.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Shiba-Inu-SHIB-burn.jpeg?fit=1200%2C686\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.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 burns\",\"shiba inu news\",\"shiba inu price\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-11-08T23:00:54Z\",\"datePublished\":\"2023-11-08T23:00:54Z\",\"dateModified\":\"2024-06-11T07:48:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Shiba-Inu-SHIB-burn.jpeg?fit=1200%2C686","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/559748"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=559748"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/559748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/559756"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=559748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=559748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=559748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}