{"id":611564,"date":"2024-06-05T14:00:20","date_gmt":"2024-06-05T14:00:20","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=611564"},"modified":"2024-06-11T06:45:37","modified_gmt":"2024-06-11T06:45:37","slug":"shiba-inu-burn-rate-99-crash","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-99-crash\/","title":{"rendered":"Shiba Inu Burn Rate Flatlines With 99% Crash, End Of The Road For SHIB?"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/shiba-inu-burns-bright-shib\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">The Shiba Inu (SHIB) burn rate<\/span><\/a><span style=\"font-weight: 400\"> is again under the radar following a drastic decline in the number of tokens burned. This development is significant considering the impact that these <\/span><a href=\"http:\/\/v\" rel=\"nofollow\"><span style=\"font-weight: 400\">token burns<\/span><\/a><span style=\"font-weight: 400\"> are known to have on the meme coin.\u00a0<\/span><\/p>\n<h2>Shiba Inu Burn Rate Crashes By Over 99%<\/h2>\n<p><a href=\"https:\/\/www.shibburn.com\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Data<\/span><\/a><span style=\"font-weight: 400\"> from the burn tracking website Shibburn shows that <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-burn-rate-climbs-434\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shiba Inu\u2019s burn rate<\/span><\/a><span style=\"font-weight: 400\"> has declined by 99.44% in the last 24 hours. Only 120,888 Shiba Inu tokens have been burned during this period, which is way low compared to the over 21 million tokens that were burned the previous day.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.uniquehot.com\/news\/bitcoin\/bitcoin-500000-price-billionaire\/\">Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here\u2019s Why<\/a><\/div>\n<p><span style=\"font-weight: 400\">The instability in the number of Shiba Inu tokens burned daily continues to be a problem for the <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-developments-week\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">meme coin\u2019s ecosystem<\/span><\/a><span style=\"font-weight: 400\">. This issue is believed to be mainly due to the significant drop in the number of daily transactions on the <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-shibarium-public\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shibarium network<\/span><\/a><span style=\"font-weight: 400\">. The layer-2 network is known to have contributed largely to the <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-burns-bright-shib\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">76 billion Shiba Inu tokens<\/span><\/a><span style=\"font-weight: 400\"> that were burned last year.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-shibarium-crashes\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shibarium<\/span><\/a><span style=\"font-weight: 400\"> hasn\u2019t had much impact on these token burns since the start of the year with its daily transactions dropping from millions recorded last year to just a few thousand transactions as of late. This development has hindered the network from deploying a part of the transaction fees earned to Shiba Inu burns like it did last year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, while Shiba Inu\u2019s burn rate has dropped by over 99%, a positive takeaway is that it has increased by almost 15% in the last seven days. This is undoubtedly a welcome development that members of the <\/span><a href=\"http:\/\/v\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shiba Inu community<\/span><\/a><span style=\"font-weight: 400\"> will be glad about. However, the focus remains on sustaining this trend, given the positive impact it could have on Shiba Inu\u2019s price, especially heading into the latter stages of the <\/span><a href=\"https:\/\/bitcoinist.com\/another-bull-run-is-close\/#:~:text=This%20Crypto%20Founder%20Believes%20Another%20Bitcoin%20Bull%20Run%20Is%20Close%2C%20Here's%20Why,-by%20Scott%20Matherson&amp;text=Several%20crypto%20analysts%20have%20continued,next%20bull%20run%20will%20occur.\" rel=\"nofollow\"><span style=\"font-weight: 400\">bull run<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2>SHIB Price Remains Unaffected<\/h2>\n<p><a href=\"https:\/\/bitcoinist.com\/shiba-inu-new-ath-of-0-0001\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shiba Inu\u2019s price<\/span><\/a><span style=\"font-weight: 400\"> is currently on an upward trend despite the decline in the burn rate. <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/shiba-inu\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap shows that the meme coin is up over 8% in the last 24 hours. <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-cardano-crypto-10\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shiba Inu\u2019s trading volume<\/span><\/a><span style=\"font-weight: 400\"> is also up by over 7% in the last 24 hours, signaling investors\u2019 bullish sentiment towards the meme coin.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.uniquehot.com\/news\/dogecoin\/dogecoin-social-sentiment\/\">Dogecoin Social Sentiment Turns Bearish And Drops To March Levels, What This Means For Price<\/a><\/div>\n<p><a href=\"https:\/\/bitcoinist.com\/shiba-inu-metrics-turn-bullish\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">On-chain metrics<\/span><\/a><span style=\"font-weight: 400\"> also paint a bullish picture for the meme coin. <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/SHIB\" rel=\"nofollow\"><span style=\"font-weight: 400\">Data<\/span><\/a><span style=\"font-weight: 400\"> from the market intelligence platform <\/span><a href=\"https:\/\/bitcoinist.com\/ethereums-explosion-3600-90-investors-profit-data\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">IntoTheBlock<\/span><\/a><span style=\"font-weight: 400\"> shows that Shiba Inu whales have been accumulating the meme coin in the last few days. Specifically, <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-23-5-million-shiba-inu\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">on-chain analytics platform SpotOnChain<\/span><\/a> <a href=\"https:\/\/x.com\/spotonchain\/status\/20444554\" rel=\"nofollow\"><span style=\"font-weight: 400\">revealed<\/span><\/a><span style=\"font-weight: 400\"> a whale that just recently acquired 149.3 SHIB tokens<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the Shiba Inu ecosystem has experienced notable network growth, suggesting that new crypto investors are rotating their capital to the meme coin. Shiba Inu will likely continue to record an increased demand, with meme coins projected as one of the leading narratives in this <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bull-market-glassnode\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">bull run<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/2Qjyx3IG\/\" alt=\"Shiba Inu price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">SHIB price struggles to hold up | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Shiba Inu (SHIB) burn rate is again under the radar following a drastic decline in the number of tokens burned. This development is significant considering the impact that these token burns are known to have on the meme coin.\u00a0 Shiba Inu Burn Rate Crashes By Over 99% Data from the burn tracking website Shibburn shows that Shiba Inu\u2019s burn rate has declined by 99.44% in the last 24 hours. Only 120,888 Shiba Inu tokens have been burned during this period, which is way low compared to the over 21 million tokens that were burned the previous day.\u00a0 Related Reading: Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here\u2019s Why The instability in the number of Shiba Inu tokens burned daily continues to be a problem for the meme coin\u2019s ecosystem. This issue is believed to be mainly due to the significant drop in the number of daily transactions on the Shibarium network. The layer-2 network is known to have contributed largely to the 76 billion Shiba Inu tokens that were burned last year.\u00a0\u00a0 However, Shibarium hasn\u2019t had much impact on these token burns since the start of the year with its daily transactions dropping from millions recorded last year to just a few thousand transactions as of late. This development has hindered the network from deploying a part of the transaction fees earned to Shiba Inu burns like it did last year.\u00a0 Meanwhile, while Shiba Inu\u2019s burn rate has dropped by over 99%, a positive takeaway is that it has increased by almost 15% in the last seven days. This is undoubtedly a welcome development that members of the Shiba Inu community will be glad about. However, the focus remains on sustaining this trend, given the positive impact it could have on Shiba Inu\u2019s price, especially heading into the latter stages of the bull run. SHIB Price Remains Unaffected Shiba Inu\u2019s price is currently on an upward trend despite the decline in the burn rate. Data from CoinMarketCap shows that the meme coin is up over 8% in the last 24 hours. Shiba Inu\u2019s trading volume is also up by over 7% in the last 24 hours, signaling investors\u2019 bullish sentiment towards the meme coin. Related Reading: Dogecoin Social Sentiment Turns Bearish And Drops To March Levels, What This Means For Price On-chain metrics also paint a bullish picture for the meme coin. Data from the market intelligence platform IntoTheBlock shows that Shiba Inu whales have been accumulating the meme coin in the last few days. Specifically, on-chain analytics platform SpotOnChain revealed a whale that just recently acquired 149.3 SHIB tokens Meanwhile, the Shiba Inu ecosystem has experienced notable network growth, suggesting that new crypto investors are rotating their capital to the meme coin. Shiba Inu will likely continue to record an increased demand, with meme coins projected as one of the leading narratives in this bull run.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":611595,"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":[83668,86002,89178,92123,83667,89157,86437,84562,84558],"class_list":["post-611564","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-shiba-inu-burn","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>Shiba Inu Burn Rate Flatlines With 99% Crash, End Of The Road For SHIB?<\/title>\n<meta name=\"description\" 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