{"id":561522,"date":"2023-11-20T17:00:04","date_gmt":"2023-11-20T17:00:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=561522"},"modified":"2024-06-11T07:21:57","modified_gmt":"2024-06-11T07:21:57","slug":"shiba-inu-burn-rate-98-79","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-98-79\/","title":{"rendered":"Shiba Inu Burn Rate Crashes 98.79% With Less Than 1 Million tokens Burned"},"content":{"rendered":"

The majority of cryptocurrencies have <\/span>started to turn green<\/span><\/a> in terms of their price movement, which has led to Shiba Inu seeing gains of 2% over the past 24 hours. In spite of the modest increase in price, the SHIB burn rate seems to have taken a massive nosedive.\u00a0<\/span><\/p>\n

According to the official SHIB burn tracker, Shibbburn, only 983,884 SHIB tokens were burned in the last 24 hours, representing a decline of over 99% from the previous day. A significant reduction of this kind in the burn rate is guaranteed to raise concerns from investors on the likelihood of downward pressure on SHIB’s price in the short term.\u00a0<\/span><\/p>\n

SHIB Burn Rate Plummets 98.79%<\/h2>\n

The primary purpose of the Shiba Inu burning is to reduce the amount of SHIB tokens in circulation, hence fostering scarcity and subsequently driving up the value of SHIB tokens in circulation. SHIB tokens are burned sporadically, with some days witnessing more token burn than others. For example, <\/span>the first SHIB burn<\/span><\/a> on Shiba Inu’s layer-2 solution <\/span>Shibarium <\/span><\/a>amounted to 97 Million SHIB tokens.<\/span><\/p>\n

Related Reading: Argentina Welcomes First Pro-Bitcoin President, BTC Price Surges Above $37,000<\/a><\/div>\n

According to the <\/span>Shibburn website<\/span><\/a>, a total of 983,884 SHIB tokens were burnt in the past 24 hours in three transactions, with the most being 42,850 SHIB tokens transferred to an inactive wallet. This figure translates to a 98.79% decrease in the number of tokens burned, a significant decline compared to the prior days.<\/span><\/p>\n

\"Shiba<\/p>\n

Source: Shibburn<\/pre>\n
To put this into perspective, a total of 81.26 million SHIB tokens were burnt yesterday, and more than 49.76 million SHIB tokens were burnt two days ago.<\/span><\/p>\n
Implications For Shiba Inu Investors<\/h2>\n
SHIB tokens can be burnt by any investor by sending tokens to any of the three SHIB burn addresses. <\/span>According to the Shiba<\/span><\/a> Inu community’s marketing lead, SHIB burns are a community effort. Data from the Shibburn website shows that more than 410 trillion SHIB tokens have been burnt from the initial supply.\u00a0<\/span><\/p>\n
Related Reading: Crypto Analyst Predicts XRP Price Will Reach $1.35 As These Metrics Heat Up<\/a><\/div>\n
This trend of the reduction in SHIB burn rate seems to have been going on for a while, as interest seems to be waning since the burn seems to have no effect on the price. As records from Shibburn show, <\/span>October saw a decline<\/span><\/a> of 37.12% in SHIB burns when compared to September. The burn rate performance slowed down throughout the month, despite the cryptocurrency’s price spiking more than 17% from its October bottom.<\/span><\/p>\n
SHIB is currently trading at $0.000008687, still up by 23.75% in the past 30 days. SHIB’s journey to $1 seems bleak at the moment, considering there are more than 589 trillion SHIB in circulation. SHIB burns will have to play an important part before the cryptocurrency can reach the $1 mark as they will help to decrease the total supply.<\/span><\/p>\n
\"Shiba<\/p>\n
SHIB price at $0.00000868 | Source: SHIBUSD On Tradingview.com<\/a><\/pre>\n
Featured image from CoinGecko, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The majority of cryptocurrencies have started to turn green in terms of their price movement, which has led to Shiba Inu seeing gains of 2% over the past 24 hours. In spite of the modest increase in price, the SHIB burn rate seems to have taken a massive nosedive.\u00a0 According to the official SHIB burn tracker, Shibbburn, only 983,884 SHIB tokens were burned in the last 24 hours, representing a decline of over 99% from the previous day. A significant reduction of this kind in the burn rate is guaranteed to raise concerns from investors on the likelihood of downward pressure on SHIB’s price in the short term.\u00a0 SHIB Burn Rate Plummets 98.79% The primary purpose of the Shiba Inu burning is to reduce the amount of SHIB tokens in circulation, hence fostering scarcity and subsequently driving up the value of SHIB tokens in circulation. SHIB tokens are burned sporadically, with some days witnessing more token burn than others. For example, the first SHIB burn on Shiba Inu’s layer-2 solution Shibarium amounted to 97 Million SHIB tokens. Related Reading: Argentina Welcomes First Pro-Bitcoin President, BTC Price Surges Above $37,000 According to the Shibburn website, a total of 983,884 SHIB tokens were burnt in the past 24 hours in three transactions, with the most being 42,850 SHIB tokens transferred to an inactive wallet. This figure translates to a 98.79% decrease in the number of tokens burned, a significant decline compared to the prior days. Source: Shibburn To put this into perspective, a total of 81.26 million SHIB tokens were burnt yesterday, and more than 49.76 million SHIB tokens were burnt two days ago. Implications For Shiba Inu Investors SHIB tokens can be burnt by any investor by sending tokens to any of the three SHIB burn addresses. According to the Shiba Inu community’s marketing lead, SHIB burns are a community effort. Data from the Shibburn website shows that more than 410 trillion SHIB tokens have been burnt from the initial supply.\u00a0 Related Reading: Crypto Analyst Predicts XRP Price Will Reach $1.35 As These Metrics Heat Up This trend of the reduction in SHIB burn rate seems to have been going on for a while, as interest seems to be waning since the burn seems to have no effect on the price. As records from Shibburn show, October saw a decline of 37.12% in SHIB burns when compared to September. The burn rate performance slowed down throughout the month, despite the cryptocurrency’s price spiking more than 17% from its October bottom. SHIB is currently trading at $0.000008687, still up by 23.75% in the past 30 days. SHIB’s journey to $1 seems bleak at the moment, considering there are more than 589 trillion SHIB in circulation. SHIB burns will have to play an important part before the cryptocurrency can reach the $1 mark as they will help to decrease the total supply. SHIB price at $0.00000868 | Source: SHIBUSD On Tradingview.com Featured image from CoinGecko, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":561524,"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":[83668,86002,89178,84473,89716,83667,89181,89157,84562,84558],"class_list":["post-561522","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-shib-price-performance","tag-shiba-inu","tag-shiba-inu-burn","tag-shiba-inu-news","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Burn Rate Crashes 98.79% With Less Than 1 Million tokens Burned<\/title>\n<meta name=\"description\" content=\"The majority of cryptocurrencies have started to turn green in terms 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Burn Rate Crashes 98.79% With Less Than 1 Million tokens Burned","url":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-98-79\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-98-79\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Shiba-Inu-burn-SHIB-Small.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Shiba-Inu-burn-SHIB-Small.jpeg?fit=320%2C213"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"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","shib price performance","shiba inu","shiba inu burn","shiba inu news","shibusd","shibusdt"],"dateCreated":"2023-11-20T17:00:04Z","datePublished":"2023-11-20T17:00:04Z","dateModified":"2024-06-11T07:21:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Burn Rate Crashes 98.79% With Less Than 1 Million tokens Burned\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-98-79\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-98-79\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Shiba-Inu-burn-SHIB-Small.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Shiba-Inu-burn-SHIB-Small.jpeg?fit=320%2C213\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"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\",\"shib price performance\",\"shiba inu\",\"shiba inu burn\",\"shiba inu news\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-11-20T17:00:04Z\",\"datePublished\":\"2023-11-20T17:00:04Z\",\"dateModified\":\"2024-06-11T07:21:57Z\"}<\/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-burn-SHIB-Small.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/561522"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=561522"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/561522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/561524"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=561522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=561522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=561522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}