{"id":572317,"date":"2024-01-30T13:30:11","date_gmt":"2024-01-30T13:30:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=572317"},"modified":"2024-06-11T07:07:44","modified_gmt":"2024-06-11T07:07:44","slug":"shiba-inu-burn-rate-surges-over-1400-as-price-recovers","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-surges-over-1400-as-price-recovers\/","title":{"rendered":"Shiba Inu Burn Rate Surges Over 1,400%, As Price Recovers"},"content":{"rendered":"<p><a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-team-next-big-thing-big-money-shib\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Shiba Inu<\/span><\/a><span style=\"font-weight: 400\">, an Ethereum-based meme coin, is presently in the limelight as its burn initiative has witnessed a significant surge in its token burn rate in the past day, suggesting increased engagement from the community.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Shiba Inu Daily Burn Rate Skyrockets<\/span><\/h2>\n<p><a href=\"https:\/\/www.shibburn.com\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Data<\/span><\/a><span style=\"font-weight: 400\"> from Shibburn reveals that the last 24 hours have seen a notable spike in the Shiba Inu burn rate. The tracker reported that the burn rate has recorded a massive 1,411% increase today, January 30.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the platform, over 61 million SHIB tokens have been incinerated in the last 24 hours. The increase in burn rate coincides with a recent rally in the price of Shiba Inu.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-burn-rate-skyrockets-over-300-as-price-sheds-a-zero\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Burn Rate Skyrockets Over 300% As Price Sheds A Zero<\/a><\/div>\n<p><span style=\"font-weight: 400\">Shibburn shows that the present rise in <\/span><a href=\"https:\/\/uniquehot.com\/news\/shiba-inu-burn-rate-spikes-over-2700-despite-market-slowdown\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">burn rate<\/span><\/a><span style=\"font-weight: 400\"> was caused by two large burn transactions. It was discovered that the two transactions destroyed a total of 48.9 million SHIB in less than one hour.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The first transaction orchestrated by the wallet address 0x85a860003705c56&#8230;7eb2f4bcc7 witnessed about 21 million SHIB being destroyed. Meanwhile, the second transaction carried out by another wallet address 0x85a860003705c56&#8230;7eb2f4bcc7 saw over 27 million SHIB tokens being burned.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The<\/span><span style=\"font-weight: 400\">\u00a0Shiba Inu burn rate might have been up in the past day, but in the past week, the rate appears to have been down.\u00a0<\/span><span style=\"font-weight: 400\">From the <\/span><a href=\"https:\/\/x.com\/shibburn\/status\/40573272?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">hourly SHIB burn update<\/span><\/a><span style=\"font-weight: 400\"> on X (formerly Twitter), the rate is down by over 48% in the past week. Furthermore, the report noted that over 113.42 million Shiba Inu tokens have been destroyed in the past seven days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Even though tokens have been burned virtually every day for more than a year now, the burn rate has not made a crater in the supply that is in circulation. <\/span><span style=\"font-weight: 400\">So far, Shiba Inu has burned over 410.70 trillion SHIB since the initiative was introduced.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Currently, the overall supply in circulation is about 581.29 trillion SHIB. This indicates more work to be done by the SHIB community before the incineration has a weighty effect.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">SHIB Prices Recovers Amid Burn Rate Rise<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Shiba Inu price, as of today, appears to have recovered from a lengthy bearish trend it has been struggling with. However, there is no solid proof that the rise in burn rate had any impact on the crypto asset&#8217;s recent rally.<\/span><\/p>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-price-most-crucial-week-1-5-years\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Price Enters Most Crucial Week In 1.5 Years, Here\u2019s Why<\/a><\/div>\n<\/div>\n<p><span style=\"font-weight: 400\">As of the time of writing, the price of Shiba Inu was sitting at $0.000009254, indicating a 2.24% rise in the past 24 hours. CoinMarketCap reveals that its market cap and trading volume are up by 2.19% and 45.16% in the past day.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the digital asset is now ranked 17th overall in terms of market cap due to its recent price recovery. With the recovery, SHIB has attracted attention from investors and sparked fresh sentiments over possible long-term growth.<\/span><\/p>\n<figure style=\"width: 2273px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/g3fLWVSI\/\" alt=\"Shiba Inu\" width=\"2273\" height=\"1351\"><figcaption class=\"wp-caption-text\">SHIB trading at $0.00000927 on the 1D chart | Source: SHIBUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/g3fLWVSI\/\" target=\"_blank\" rel=\"noopener nofollow\">Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from iStock, chart by Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu, an Ethereum-based meme coin, is presently in the limelight as its burn initiative has witnessed a significant surge in its token burn rate in the past day, suggesting increased engagement from the community. Shiba Inu Daily Burn Rate Skyrockets Data from Shibburn reveals that the last 24 hours have seen a notable spike in the Shiba Inu burn rate. The tracker reported that the burn rate has recorded a massive 1,411% increase today, January 30. According to the platform, over 61 million SHIB tokens have been incinerated in the last 24 hours. The increase in burn rate coincides with a recent rally in the price of Shiba Inu. Related Reading: Shiba Inu Burn Rate Skyrockets Over 300% As Price Sheds A Zero Shibburn shows that the present rise in burn rate was caused by two large burn transactions. It was discovered that the two transactions destroyed a total of 48.9 million SHIB in less than one hour. The first transaction orchestrated by the wallet address 0x85a860003705c56&#8230;7eb2f4bcc7 witnessed about 21 million SHIB being destroyed. Meanwhile, the second transaction carried out by another wallet address 0x85a860003705c56&#8230;7eb2f4bcc7 saw over 27 million SHIB tokens being burned. The\u00a0Shiba Inu burn rate might have been up in the past day, but in the past week, the rate appears to have been down.\u00a0From the hourly SHIB burn update on X (formerly Twitter), the rate is down by over 48% in the past week. Furthermore, the report noted that over 113.42 million Shiba Inu tokens have been destroyed in the past seven days. Even though tokens have been burned virtually every day for more than a year now, the burn rate has not made a crater in the supply that is in circulation. So far, Shiba Inu has burned over 410.70 trillion SHIB since the initiative was introduced.\u00a0 Currently, the overall supply in circulation is about 581.29 trillion SHIB. This indicates more work to be done by the SHIB community before the incineration has a weighty effect. SHIB Prices Recovers Amid Burn Rate Rise Shiba Inu price, as of today, appears to have recovered from a lengthy bearish trend it has been struggling with. However, there is no solid proof that the rise in burn rate had any impact on the crypto asset&#8217;s recent rally. Related Reading: Shiba Inu Price Enters Most Crucial Week In 1.5 Years, Here\u2019s Why As of the time of writing, the price of Shiba Inu was sitting at $0.000009254, indicating a 2.24% rise in the past 24 hours. CoinMarketCap reveals that its market cap and trading volume are up by 2.19% and 45.16% in the past day. Furthermore, the digital asset is now ranked 17th overall in terms of market cap due to its recent price recovery. With the recovery, SHIB has attracted attention from investors and sparked fresh sentiments over possible long-term growth. Featured image from iStock, chart by Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":561029,"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":[10995,83668,86002,83667,88130,84562,84558],"class_list":["post-572317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-coinmarketcap","tag-shib","tag-shib-burn","tag-shiba-inu","tag-shibburn","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>Shiba Inu Burn Rate Surges Over 1,400%, As Price Recovers<\/title>\n<meta name=\"description\" content=\"Shiba Inu is presently in the limelight as its burn initiative has witnessed a significant surge in its token burn rate in the past day.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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