Shiba Inu Massive Token Burn Ignites $0.001 SHIB Price Dream — One Catalyst Could Spark the Explosion

Shiba Inu Massive Token Burn Ignites $0.001 SHIB Price Dream — One Catalyst Could Spark the Explosion
фото показано с : zycrypto.com

2024-6-27 00:10

On June 25th, dog-themed memecoin Shiba Inu (SHIB) witnessed a significant increase in its intraday token burn rate, triggering a spike in transactions, according to IntoTheBlock data. The blockchain analytics firm attributed this twofold surge in burn rate to large transactions worth over $100,000 conducted by whale traders even as SHIB Army continues to bank on the $0.001 SHIB price dream.

Furthermore, insights from Shiba Inu’s Official burn tracker, Shibburn, show that 37.23 million SHIB tokens were removed from circulation, reflecting a 459% jump in burn rate. As of press time, over 410 trillion SHIB tokens have been removed from circulation. Burning means permanently removing cryptocurrency tokens from circulation to create scarcity, boosting demand and market value.

However, the deflationary pressure on SHIB failed to spark a price rally as SHIB traded at $0.00001799 following the token burn. The increased activity among large investors, known as “whales,” along with the simultaneous drop in SHIB’s price, indicates that these big players are selling off their holdings to secure profits. 

This is usually seen as a signal that whales believe the current price is a good time to cash out, possibly because they anticipate future price drops or want to realize gains.

Recent Volatility in Memecoin Market Amid Mt. Gox Compensation News and Broader Market Decline

Over the past month, Shiba Inu has witnessed a significant downward pressure, decreasing by 30% in value. This downtrend follows the decline of the broader cryptocurrency market. On June Monday, the memecoin sector experienced a 7% decrease, resulting in a price drop for assets in the category.

Popular meme coins, like DOGE, SHIB, FLOKI, and BRETT, saw price dips, including low-cap tokens such as ANDY and MUMU. Analysts believe this dip was triggered by news that Mt. Gox creditor compensation is set to begin in July.

In today’s trading session, meme coins have printed price gains, with green candlesticks flooding the sector. Dogecoin, the largest meme coin by market cap, has increased by 1.69% over the past 24 hours, trading at $0.1235.

Meanwhile, Shiba Inu, the second-largest meme coin by market cap, trades at $0.00001733, reflecting a 3.06% intraday rally. 

origin »

SHIBA INU (SHIB) на Currencies.ru

$ 0 (+1.82%)
Объем 24H $11
Изменеия 24h: 8.92 %, 7d: 2.86 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 3428
Доступно / Всего 0 SHIB

shiba token burn inu increase huge memecoin

Источник: zycrypto.com

shiba token → Результатов: 126


Фото:

Kraken’s Failed Shiba Inu Listing Turns Into A Nightmare For The ‘SHIBArmy’

Crypto Exchange Kraken failed to list the SHIB token on its trading platform yesterday as promised on Monday via its social communication channels, to the disappointment of many fans of the token. Several users are even threatening to completely delete their Kraken account calling the exchange’s failure to list the token as proof that it […]

2021-11-4 22:52


Фото:

Shiba Inu (SHIB) Price Analysis: Could Robinhood and Kraken listings save the token after the recent dip?

Shiba Inu SHIB/USD is a decentralized cryptocurrency that was created in 2020 by an anonymous person or group of people under the pseudonym Ryoshi.   It is an Ethereum-based ERC-20 token heavily inspired by Dogecoin, which over time evolved into its own ecosystem, consisting of ShibaSwap as well as the LEASH and BONE tokens.

2021-11-4 16:48


Фото:

Best exchanges to trade Shiba Inu after it remained strong despite Elon Musk’s revelation of not owning it

Shiba Inu (SHIB) token has remained strong despite Elon Musk’s revelation of not owning it; something most investors thought would cause the coin to plummet. To help investors and traders who are eyeing to buy and hold the SHIB coin, Invezz has created a brief article to help with identifying the best places to buy […] The post Best exchanges to trade Shiba Inu after it remained strong despite Elon Musk’s revelation of not owning it appeared first on Invezz.

2021-10-26 19:39


Фото:

Is it safe to buy Dogecoin and Shiba Inu-inspired Altcoins PRINCEFLOKI, BABYFLOKI and DOGEDASH?

PrinceFloki PRINCEFLOKI/USD is a rebase token that provides DOGE rewards for its holders. It is the native cryptocurrency token of the network known as PrinceFloki. Baby Floki BABYFLOKI/USD is a deflationary token that rewards users with DOGE just by holding the token, and it is named after Elon Musk’s new Shiba Inu dog.

2021-10-22 18:14


Фото:

Shiba rises another 50% Thursday morning: here’s what the charts are signalling

In the last 24 hours, Shiba Inu (SHIB/USD) has risen by 55% on a 700% surge in trading activity. The token had reached a high of $0.00001482 but it has given up some of its gains. Many short-term traders are sitting on impressive profits and are wondering if the brief decline marks the end of […] The post Shiba rises another 50% Thursday morning: here’s what the charts are signalling appeared first on Invezz.

2021-10-8 20:49


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Shiba Inu burn rate plummets 90% - How this will impact SHIB prices in 2025

Shiba Inu's burn rate plunged amid price struggles. Whale transactions continued to influence SHIB's price, adding both volatility and liquidity concerns. Shiba Inu [SHIB] has seen fluctuatiThe post Shiba Inu burn rate plummets 90% - How this will impact SHIB prices in 2025 appeared first on AMBCrypto.

Meme coin mania: top 3 cryptos that dominated 2024

The cryptocurrency market, a space known for its constant evolution, continues to introduce new digital assets at a rapid pace. Among these, meme-based cryptocurrencies have experienced a surge in popularity, driven by their strong connections to internet culture and social media trends.

Meme coins to watch in 2025: Doge, Shiba Inu, and Pepe lead the pack

Meme coins, born from internet jokes and viral memes, have carved out a unique space within the cryptocurrency landscape. These digital assets, often driven by strong community support and perceived decentralization, are no longer just a laughing matter; they’ve become a force to be reckoned with.