Shib Inu tokens burned at an incredible rate of 37,937%, resulting in the destruction of a mammoth 280,097,384 tokens.
Scan the Latest Shiba Inu News on Google News The burning service Shibburn reveals an explosive five-digit increase in SHIB's burn rate, with over 280 million SHIB tokens being wiped out of circulation in just a few hours.
This spectacular surge indicates that the Shiba Inu team is stepping up their game in their regular token burn strategy, with the renewed interest from investors driving major cryptocurrencies, including SHIB, to potentially break out.
According to the data, the adorable meme coin Shiba Inu (SHIB) has seen a monstrous 37,937% boost in its burn rate in the last 24 hours. This staggering figure pinpoints a total of 280,097,384 SHIB tokens that have been permanently obliterated from the market.
280,097,384 SHIB Vaporized as Burn Rate Skyrockets 37,937% Ripple Believes UK Offers a Huge Opportunity North Carolina's $127B Pension Fund May Consider Bitcoin Vote Breaking: Ripple Attempts to Purchase Circle for $5 Billion. Here's What Happens NextWith the current SHIB circulation shrinking to a whopping 584,418,740,458,583 tokens, this metric underscores the Shiba Inu team's commitment to creating scarcity while driving up the value of the popular meme coin.
The massive spike in SHIB's burn rate signifies a significant resurgence from previous slumps, which lingered for multiple weeks. Though this points towards a positive outlook for SHIB's price performance, it suggests increased demand among whales and small investors.
SHIB Price in the Red Zone
Despite the monumental increase in SHIB's burn rate in the past day, Shiba Inu's price can still be found in the red zone during the same period.
As we speak, SHIB is trading at $0.00001334, marking a 1.54% decline in the last 24 hours. Interestingly, the token reached a high of $0.00001352 during the same day.
This gloomy price trend suggests that the extensive token burns conducted by the SHIB team may not carry a significant immediate impact on the token's performance. However, past patterns reveal that persistent SHIB token burns have historically proved beneficial for the token's long-term growth.
Shiba Inu (SHIB) Target of $0.0000236? Meme Coin Price History Hints at a Possibility
Gamza KhanzadaevEarlier today, U.Today reported on a massive SHIB transfer involving billions of SHIB tokens to a major U.S. exchange. While this move suggests a potential sale or preparation for a sale, it may have contributed to the recent drop in Shiba Inu's market price, sparking the need for more token burns.
Though the SHIB ecosystem continues to witness unusual whale activities, the community remains hopeful that a price breakout for SHIB is just around the corner. #ShibaInu
- The Shibburn service has revealed an explosive five-digit increase in SHIB's burn rate, with over 280 million SHIB tokens being wiped out of circulation in a few hours.
- The adorable meme coin Shiba Inu (SHIB) has seen a monstrous 37,937% boost in its burn rate in the last 24 hours.
- With the current SHIB circulation shrinking to a whopping 584,418,740,458,583 tokens, this metric underscores the Shiba Inu team's commitment to creating scarcity while driving up the value of the popular meme coin.
- Despite the monumental increase in SHIB's burn rate in the past day, Shiba Inu's price can still be found in the red zone during the same period.
- Ripple believes the UK offers a huge opportunity, and North Carolina's $127B pension fund may consider a Bitcoin vote. Breaking: Ripple attempts to purchase Circle for $5 billion.
- Though the SHIB ecosystem continues to witness unusual whale activities, the community remains hopeful that a price breakout for SHIB is just around the corner, with the possibility of SHIB targeting $0.0000236 hinted by its price history.
