Shiba Inu (SHIB) burn rate skyrockets to 3,894%

Shiba Inu (SHIB) burn rate skyrockets to 3,894%
фото показано с : invezz.com

2024-6-7 13:08

This significant increase has led to the permanent removal of millions of SHIB tokens from circulation.

4.8 million SHIB tokens burned in 24 hours

In the last 24 hours alone, a total of 4,829,147 SHIB tokens were burned across seven transactions.

This dramatic rise in the burn rate reflects the community’s ongoing efforts to reduce the token supply, aiming to increase the value of the remaining SHIB tokens in circulation.

Whale interest drives SHIB burn rate

The surge in the SHIB burn rate coincided with a sudden rise in interest from cryptocurrency whales.

The number of large transactions involving SHIB has doubled this week compared to the averages observed earlier in 2024. This heightened activity indicates increased confidence and interest from major investors in the Shiba Inu ecosystem.

Large transaction volume increases by 223%

In addition to the increased burn rate, SHIB’s large transaction volume has also seen a significant uptick.

Transactions totaling more than $100,000 amounted to $435.66 million, representing a 223% increase in large transaction volume.

This surge highlights the growing participation of large investors in the SHIB market, potentially driving further interest and activity in the token.

Implications of the increased SHIB burn rate

The substantial increase in the SHIB burn rate and large transaction volumes suggest a positive outlook for the Shiba Inu token.

By reducing the overall supply through token burns, the remaining SHIB tokens could see an increase in value, benefiting long-term holders.

Furthermore, the rise in whale activity and large transactions indicates a robust interest in SHIB from significant market players, which could lead to greater market stability and growth.

The future of Shiba Inu: A community-driven effort

The Shiba Inu community’s dedication to burning tokens and reducing supply is a testament to its commitment to the project’s long-term success.

As more tokens are removed from circulation, the community continues to play a crucial role in shaping the future of SHIB.

The recent surge in burn rate and whale interest signals a promising trajectory for the token, potentially leading to increased value and adoption.

The post Shiba Inu (SHIB) burn rate skyrockets to 3,894% appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

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

shib tokens hours burned million total across

Источник: invezz.com

shib tokens → Результатов: 126


Фото:

Massive SHIB Burn Expected As Shiba Inu Prepares To Advance Into Trillion-Dollar Metaverse

Shiba Inu could soon turn its focus into blockchain gaming in a watershed moment expected to greatly reduce the number of tokens in circulation, sending prices north. In a recent reveal by one of the token’s leading developers, Shytoshi Kusama, the development which he termed as the “future of gaming” was poised to be a […]

2021-12-6 10:24


Фото:

Canadian Medical Startup Acquires 31 Billion SHIB Tokens — Will Now Accept Shiba Inu Payments

Leading Canada-based online medical service provider ‘Ask The Doctor’ on Wednesday announced that it had added $1.5 Million worth of Shiba Inu to its balance sheet. According to the disclosure, the foray saw the healthcare startup acquire approximately 31 Billion SHIB via Kraken exchange as the firm prepares to start accepting the token as a […]

2021-12-2 23:31


Фото:

Crypto Rewards Platform Ethernal Launches Sale on PancakeSwap

Ethernal, the first community-driven DeFi token to generate rewards in the form of any major cryptocurrency, launched its token sale on PancakeSwap. For the first time, DeFi staking and other rewards can be made available in the user’s choice of crypto (BTC, ETH, SHIB, other BEP-20 tokens) thanks to Ethernal’s innovative smart contract design. ETHFIN […]

2021-11-8 19:38


Shiba Inu Price Up Over 20%, Robinhood Petition Reaches 500,000 Signatures

One of the top gainers today is SHIBA INU, this sharp rebound comes amid FUD regarding a whale’s coins being recently moved and certain exchanges delaying $SHIB listings. After Shiba Inu’s meteoric rise in October when $SHIB’s price rose over 400%, news broke out that a wallet with $8b worth of Shiba tokens moved over […] The post Shiba Inu Price Up Over 20%, Robinhood Petition Reaches 500,000 Signatures appeared first on NullTX.

2021-11-6 01:17


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


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Shiba Inu's price can reclaim its March highs - All the details

Shiba Inu’s price declined by more than 12% in the last seven days Metrics and market indicators seemed bullish on SHIB's charts Shiba Inu [SHIB] has been underperforming for multiple daysThe post Shiba Inu's price can reclaim its March highs - All the details appeared first on AMBCrypto.

Can Shiba Inu's aggressive token burns reverse SHIB's price trend?

SHIB burn rate surges by 459% in the last 24 hours. The Deflationary pressure fails to change the market trend as SHIB continues to decline.  Shiba Inu has been on the downside since 30th MThe post Can Shiba Inu's aggressive token burns reverse SHIB's price trend? appeared first on AMBCrypto.

Are Shiba Inu bulls back? SHIB rises for the first time in a month

SHIB has seen its first price increase in a month, potentially sparked by another Elon Musk speculation. Despite the uptick, SHIB's overall trend remained bearish. Shiba Inu [SHIB] has recenThe post Are Shiba Inu bulls back? SHIB rises for the first time in a month appeared first on AMBCrypto.

Shiba Inu pauses after a 21% slide: Can it spark a turnaround?

The SHIB downtrend paused briefly. SHIB has remained in a strong bear trend. The price of Shiba Inu has been in a free fall for the past few days, but it caught a break in the previous tradiThe post Shiba Inu pauses after a 21% slide: Can it spark a turnaround? appeared first on AMBCrypto.

Shiba Inu: What shrinking whale holdings reveal about SHIB's future

SHIB whales have reduced their holdings on exchanges. If demand continues to stall, SHIB’s price may fall below $0.00002.’ Top whale wallets that hold Shiba Inu [SHIB] across cryptocurreThe post Shiba Inu: What shrinking whale holdings reveal about SHIB's future appeared first on AMBCrypto.