Shiba Inu Burn Rate Skyrockets by 319,571% – What’s Fueling the Surge?
The SHIB community has recently shown remarkable commitment to reducing the circulating supply of meme coins, with a massive surge in the SHIB burn rate. According to data from Shibburn, the burn rate has spiked by an astonishing 319,571.27%. Over the past 24 hours, a total of 35,713,674 Shiba Inu tokens were burned, permanently locking them in unspendable wallets. This significant burn activity indicates the community’s strong effort to enhance SHIB’s scarcity. Top SHIB Burns and Major Transfers Among the many burns, three large transfers stood out, each removing millions of SHIB from circulation. The biggest of these transfers included 15,546,918 SHIB, followed by 11,196,225 SHIB and 8,804,670 SHIB. The community continues efforts to reduce SHIB’s supply, aiming to boost its long-term value. Weekly burn data shows a 94.31% decline, though 138,987,010 SHIB were still burned, offering hope. Despite the drop, the community has burned a significant 138,987,010 SHIB over the past week. Related article: Shiba Inu (SHIB) Ranks High on MetaMask Despite Slowing Rally This decline contrasts with the efforts made on Monday, when an anonymous whale sent 20,035,968 SHIB to a dead wallet in a single transaction. Such moves continue to play a crucial role in reducing the overall circulating supply. SHIB’s Price Performance Amid Bitcoin’s Surge Meanwhile, Bitcoin has reached a new all-time high of $107,780, drawing attention in the crypto market. However, despite Bitcoin’s surge, SHIB’s correlation with BTC seems to have weakened. Related article: Shiba Inu Faces Mixed Signals: Rising Price but Declining Burn Rate SHIB, which had a solid recovery of over 22% last week, has since been struggling to break past the resistance at the $0.00002822 level. As of now, SHIB trades at $0.00002738, reflecting a slight 2% increase today but still following a downward trend from its recent highs. While SHIB’s price and burn activities show some volatility, the community’s dedication to reducing the token supply continues to grow, fostering hopes for future price improvements.
Shiba Inu (SHIB) Ranks High on MetaMask Despite Slowing Rally
A high level of interest in Shiba Inu (SHIB) has been observed among market participants, as confirmed by its ranking on MetaMask, even though the token’s rally has entered a consolidation phase. SHIB’s MetaMask Popularity Remains Strong It has been reported by MetaMask that Shiba Inu was among the most swapped tokens on its platform last week. Despite a 15% price decline during the same period, SHIB ranked fifth in popularity among users of the Ethereum wallet. Other tokens that made it into the top five included Pepe Unchained (PEPU), Pepe (PEPE), Baby Doge (BabyDoge), and HEX (HEX), occupying first, second, third, and fourth places, respectively. This ranking has been interpreted as a sign of sustained trader interest in SHIB. Given MetaMask’s extensive user base, which exceeds 30 million active monthly users, the token’s appearance in the top rankings carries significant weight. Furthermore, SHIB has now appeared in the MetaMask rankings for three consecutive weeks, reinforcing its relevance among traders. Related Article: XRP Market Shaker: Massive Whale Movement Sparks Buzz SHIB’s Rally Stalls After Election Surge Shiba Inu’s rally, which began after the U.S. election, saw its price increase by over 98%, climbing from $0.00001687 to a high of $0.00003343. However, the upward momentum has slowed, with the token’s price consolidating around $0.00002689 at the time of writing. Last week, the price opened at $0.00003219 but declined by more than 15%, closing at $0.00002788. Despite the downturn, the sustained interest indicated by MetaMask data suggests that investors remain engaged with SHIB as a potential high-return opportunity. Potential for High Returns or Further Decline? SHIB’s recent activity has sparked speculation about its future trajectory. While the token’s 98% rally in November was impressive, it underperformed compared to Dogecoin (DOGE), which surged by 220% during the same period. This disparity has led some to believe that SHIB may hold untapped bullish potential. An analyst has suggested that SHIB is currently at a critical juncture, testing the resistance levels of a long-term downtrend. A decisive move above or below this resistance could determine whether the token experiences a 150% rally or further declines. Outlook for SHIB Amid Uncertainty While Shiba Inu’s immediate price action remains uncertain, its consistent ranking on MetaMask and active trading interest highlight its potential in the cryptocurrency market. The sustained enthusiasm among traders suggests that SHIB could either capitalize on its bullish potential or face further challenges, depending on market conditions and technical factors.
SHIB Burn Rate Surges as 20 Million Coins Removed from Supply
The SHIB community burned over 20,035,968 Shiba Inu (SHIB) coins in the past 24 hours, data from Shibburn reveals. Their collective efforts spiked the burn rate by 1,987% overnight. Despite this activity, SHIB’s price remained unaffected, even as Bitcoin surged to a record high of $106,488. Instead, SHIB’s value declined by nearly 4% within the same period. Two Major Transactions Lead the Burn Effort The total burn of 20 million SHIB was powered by two major transfers. The largest transaction destroyed 11,196,225 SHIB, while the second-largest burned 8,804,670 coins. These burns significantly contributed to the daily removal of tokens from the circulating supply, reinforcing the community’s ongoing commitment to increase SHIB’s scarcity. While daily burns saw a significant spike, the weekly burn data revealed a contrasting picture. Over the past week, SHIB’s burn rate plunged by 92.69%. Related article: SHIB Adoption Surges as Bitget Wallet Integrates Shibarium for 40M+ Users However, the total number of tokens burned during the week was still significantly higher than the 24-hour total, with 175,061,914 SHIB burned in the past seven days. This figure is nine times greater than the amount burned in the last 24 hours. SHIB Burn Progress Since Inception Since its launch, the SHIB community has successfully burned a massive 410.74 trillion SHIB from its initial supply of one quadrillion. This achievement is attributed to efforts from the SHIB community and support from Ethereum co-founder Vitalik Buterin, who contributed to early burns. Related article: SHIB Price Prediction: Analyst Forecasts 150% Rally to $0.000074 Currently, 584.02 trillion SHIB remain in circulation. Many SHIB holders continue to press the developer team to increase the burn rate, believing that a smaller supply will boost the token’s value. The goal for many in the community is to see SHIB’s price reach $1 per token. However, lead developer Shytoshi Kusama and the SHIB team have reiterated that burn speeds depend on Shibarium’s activity levels. As Shibarium’s utility increases, more gas fees are paid in BONE, and more SHIB tokens get burned as part of those fees. The SHIB community’s ongoing burn efforts aim to create a more scarce and valuable asset. While recent daily burn figures are impressive, weekly data indicates a slowdown. Nevertheless, with more community participation and increased utility on Shibarium, SHIB’s burn rate may accelerate, moving closer to the community’s ambitious $1 price target.
SHIB Price Prediction: Analyst Forecasts 150% Rally to $0.000074
An analyst has predicted a significant surge for Shiba Inu (SHIB), suggesting the token could rise by 150% to $0.000074. This forecast comes amid a 10% price decline for SHIB and ongoing market uncertainty. Shiba Inu Approaches a Critical Price Level Shiba Inu’s current price level has been described as critical by the market analyst “PouyanTradeFX.” According to the analysis shared on TradingView, SHIB is testing a long-standing trendline that has impacted its price movement since 2021. The analyst highlighted that SHIB initially entered this downtrend after reaching its all-time high of $0.00008616 in October 2021. The token revisited the trendline in March 2024 when it surged to a high of $0.00004567. A weekly candle chart was used to demonstrate that breaking above this trendline could result in a 150% rally. The price of SHIB could rise from its current level of $0.00002795 to approximately $0.000074 if the resistance is overcome. However, a failure to break the trendline could lead to a 62% decline, pushing the price to $0.000011. Bullish Projections from Other Analysts PouyanTradeFX is not the only analyst expressing optimism about SHIB’s potential. On December 11, another analyst, “Crypto ELITES,” shared a similar bullish outlook. Crypto ELITES suggested that SHIB could erase another zero from its price and surge nearly 1,700% to $0.00047905. This prediction was based on a cup-and-handle chart pattern observed on SHIB’s weekly chart. Related Article: Ripple Price Forecast: Expert Predicts XRP Crash to $1.50 and $0.50 A key factor supporting this forecast is the declining Bitcoin Dominance. This metric, which measures Bitcoin’s share of the cryptocurrency market, has dropped from 61.5% in November to 56.5% recently. The decline indicates a potential rotation of capital from Bitcoin to altcoins, including SHIB. SHIB’s Recent Performance and Future Outlook Despite the current 10% decline, SHIB has demonstrated strong performance over the past year, with a 200% price gain. Analysts believe that the token’s potential for further growth remains high, supported by market dynamics and technical patterns. While challenges remain, these bullish projections suggest that SHIB could be poised for a significant rally, potentially nearing its all-time high. Whether SHIB breaks the trendline or faces a pullback will determine its trajectory in the coming weeks.
SHIB Adoption Surges as Bitget Wallet Integrates Shibarium for 40M+ Users
The Shiba Inu Layer-2 blockchain, Shibarium, has been integrated into the Bitget Wallet, which serves over 40 million users worldwide. This development highlights a significant step for the SHIB ecosystem, offering users access to advanced blockchain features. Shibarium Added to Bitget Wallet Without Official Announcement Shibarium has been quietly integrated into the Bitget Wallet by the platform’s team. This addition was made without an official announcement from Bitget. Instead, the update was shared by the Shibarium Update channel on X, where a screenshot confirmed the new blockchain support. Although Shibarium has been integrated into the wallet, it has not yet been supported by the Bitget exchange itself. This distinction has been emphasized to ensure clarity for the Shiba Inu community. Shibarium Integration Benefits the SHIB Ecosystem The integration of Shibarium into the Bitget Wallet is expected to deliver significant benefits for the SHIB ecosystem. Users of Bitget Wallet now have the ability to store, transfer, swap, and stake Shiba Inu ecosystem assets seamlessly. As a non-custodial wallet launched in 2018, Bitget Wallet provides a secure platform for trading, earning, and staking crypto assets. Its 40 million users spread across 168 countries offer substantial potential for boosting Shibarium’s activity. This development coincides with recent milestones achieved by Shibarium, including surpassing 2 million wallet interactions and exceeding 600 million transactions. Current metrics show a total transaction count of 641.18 million and a daily transaction volume of 4.66 million. Related Article: Charles Hoskinson Addresses Network Security Misconceptions Shibarium Gains Limited Adoption on Top Platforms Despite its achievements, Shibarium remains supported by only a few leading wallets and exchanges. Currently, Gate.io and BluBit are among the prominent exchanges that have adopted Shibarium. Wallets like Frontier and GroveX have also integrated Shibarium, while MetaMask users can access it using the Chainlist feature. However, major platforms like Binance, Coinbase, and Ledger have yet to offer support for Shibarium. Community members of Shiba Inu continue to advocate for broader adoption, urging these leading platforms to embrace Shibarium. Their efforts to push for integration remain active on social media. Shibarium’s Integration Marks a New Chapter for SHIB The addition of Shibarium to the Bitget Wallet is a milestone for the SHIB ecosystem. With access to over 40 million users, the integration is poised to enhance Shibarium’s adoption and activity. As the SHIB community continues to call for broader support, further integration into major platforms may drive even greater success for the blockchain.
Shiba Inu Faces Mixed Signals: Rising Price but Declining Burn Rate
The cryptocurrency market is witnessing renewed growth, with the combined market cap rising 5.06% to $3.62 trillion. Shiba Inu (SHIB), the second-largest meme coin, is riding this upward trend. SHIB’s price increased by 7.05% in the last 24 hours, reaching $0.00002926, according to CoinMarketCap. However, while SHIB’s price shows promise, there’s a notable twist in its growth narrative. Disparity in Trading Volume and Burn Rate Data reveals a discrepancy between SHIB’s trading volume and its burn rate. On one hand, SHIB’s trading volume surged 7.6% to $1.46 billion. On the other hand, Shibburn’s data shows a significant drop in the burn rate, with only three million SHIB tokens burned in 24 hours. Related article: Shiba Inu (SHIB) Shows Signs of Recovery After Recent Price Dip This represents a steep 78% decline in the burn rate. Since the burn rate reflects the community’s long-term commitment to reducing supply, its slowdown could hinder SHIB’s rebound potential. A robust burn rate often sustains investor optimism, which, in turn, supports the token’s price momentum. Market Recovery Amid Whale Activity Shiba Inu’s overall market activity shows signs of recovery after a tough week marked by widespread sell-offs. Earlier panic selling, driven by SHIB whales, temporarily shook investor confidence. However, the gradual return of these whales is now driving renewed demand for SHIB. This shift is contributing to the broader price recovery in the market. Growing anticipation for upcoming product launches has further bolstered community engagement. Shytoshi Kusama’s messages on X (formerly Twitter) continue to inspire hope within the ShibArmy community, keeping investors optimistic. Related article: Shiba Inu Eyes Critical Resistance as Market Volume Declines Unlike traditional meme coins driven by hype, Shiba Inu’s ecosystem has evolved significantly. The launch of Shibarium, a layer-2 scaling solution, showcases SHIB’s progress toward offering real-world utility. Through products like staking and a more robust blockchain infrastructure, SHIB aims to establish itself as a serious player in the crypto space. With these innovations, SHIB seeks to achieve its next major milestone and drive further price surges. For now, investors remain watchful as trading activity and the burn rate continue to play pivotal roles in its future trajectory.
Shiba Inu (SHIB) Shows Signs of Recovery After Recent Price Dip
Shiba Inu (SHIB) is making a comeback after two days of significant price decline driven by whale activity. The meme coin’s value dropped to a low of $0.00002434 earlier this week, reflecting an 11.72% decline over the past seven days. However, SHIB’s price has since rebounded, climbing 0.99% in the last 24 hours to reach $0.0000272. Market Liquidity Fuels Recovery As an established meme coin, Shiba Inu benefits from ample market liquidity, which supports rising demand during price rebounds. Current market data shows SHIB’s trading volume at $2.28 billion. While this figure has declined on a daily basis, it underscores the active trading by SHIB whales and retail investors. This activity indicates growing interest in the token’s potential recovery. Related article: SHIB Burn Rate Skyrockets: Can It Boost the Price? Shiba Inu’s next goal is to reclaim the $0.00003 price mark, a key resistance level. If achieved, it could push SHIB’s weekly high beyond $0.000033. Technical indicators support this outlook. The Relative Strength Index (RSI) currently stands at 42.56, suggesting room for growth. Source: CoinMarketCap Meanwhile, the Moving Average Convergence Divergence (MACD) indicator on the SHIB/USDT 4-hour chart points to a possible bullish trend. The MACD line is close to crossing above the signal line, and if this crossover occurs, SHIB’s price could surge toward the $0.00004 level. Bearish Risks Remain Despite bullish signals, SHIB faces risks. If the bullish momentum falters, the token may retest the $0.0000244 support level. This bearish scenario could unfold if whale activity slows or if broader market conditions turn negative. Related article: SHIB Sell-Off: Nearly a Trillion Tokens Unleashed by Whales Shiba Inu’s recent performance has played out amid market uncertainty and profit-taking from over-leveraged positions. Critics within the broader cryptocurrency community have fueled Fear, Uncertainty, and Doubt (FUD). However, Shiba Inu’s development team has taken steps to restore confidence. By emphasizing product development and key milestones, they aim to reassure the community about SHIB’s long-term potential. Community optimism remains high, thanks to ongoing developments like the Shibarium transaction boom and the rising Shiba Inu burn rate. These factors signal progress in the project’s ecosystem, driving hope for a sustained price recovery. If these positive trends continue, SHIB could maintain upward momentum in the coming days.
SHIB Sell-Off: Nearly a Trillion Tokens Unleashed by Whales
The Shiba Inu (SHIB) market witnessed significant turmoil as nearly a trillion tokens were offloaded by major holders. This massive sell-off caused ripple effects across the market, intensifying fears among investors. SHIB Futures Hit by Massive Liquidations Yesterday’s market session recorded over $1.5 billion liquidated from long and short positions across cryptocurrencies. Within this, Shiba Inu (SHIB) accounted for $20 million in liquidations, primarily from open-ended futures contracts. Most liquidated positions were long, underscoring a bearish sentiment. The SHIB token’s price plunged nearly 25% during the trading session, reaching levels not observed since late November. This decline created panic among traders and prompted a closer examination of on-chain data. Net Outflows from Large SHIB Wallets Observed Data from IntoTheBlock highlighted intriguing trends regarding SHIB’s large holders. The Large Holders Netflow metric, which tracks wallets holding at least 0.1% of SHIB’s circulating supply, showed a net outflow of 940.01 billion SHIB. This significant reduction indicates that whales, or large SHIB investors, were actively selling off their holdings. The decline in net flow to large wallets had been ongoing since December 7, suggesting a pattern leading up to the sell-off. Market-Wide Decline Amplifies SHIB Losses The broader cryptocurrency market also suffered during the session, which played a critical role in SHIB’s downward trajectory. Although the price drop was not initiated by the whale sell-offs, their activity provided early indications of the market correction. The sharp sell-off aligns with increasing market uncertainty fueled by upcoming U.S. Consumer Price Index (CPI) data and the approach of the January 3 deadline for critical regulatory decisions. Monitoring Whale Behavior for Future Trends In the current uncertain environment, tracking the actions of large market players, like SHIB whales, can offer valuable insights. Their movements often serve as a precursor to broader market trends. As the crypto market braces for further shakeouts, staying informed about whale activity and on-chain metrics will remain crucial for SHIB investors. The significant sell-off has highlighted the vulnerability of the token’s price to actions taken by major holders, underscoring the need for vigilance. Read Also: LUNC Faces a Tug-of-War Between Bears and Bulls, Declines by 8.96% in 24 hours: When Will Bulls Stage a Comeback? Despite recent losses, Shiba Inu continues to hold a prominent position among meme-inspired cryptocurrencies. The next steps taken by SHIB whales and the overall market will shape its trajectory in the coming weeks.
Shiba Inu Eyes Critical Resistance as Market Volume Declines
Shiba Inu (SHIB) approaches a crucial resistance level that could shape its short-term price direction. The resistance, linked to a transactional level of five trillion SHIB, is likely to trigger substantial selling pressure. This barrier may either support SHIB’s upward movement or force a retracement, making it a pivotal moment for the asset. Price Momentum Slows After Recent Rally SHIB’s price action reveals a mixed outlook. Despite an earlier rally, momentum appears to be fading. Bulls have struggled to maintain control, failing to push the price past the key $0.00003300 mark. Weak market participation and low trading volume have limited the potential for a sustained upward move. Source: CoinMarketCap Currently, SHIB hovers near $0.00003000, a level that has acted as short-term support. However, this support level may not hold for long. The past few days have seen a significant drop in trading volume, weakening the support at $0.00003000. Related article: Shiba Inu (SHIB) Shows Potential for Growth Despite Market Challenges If the price breaks below this zone, SHIB could decline to $0.00002700 or even $0.00002500. Historical data shows that these levels have served as important support points during past trading cycles. Potential Upside If Resistance Breaks On the flip side, a rally could emerge if bulls regain momentum. If SHIB surpasses the $0.00003300 resistance, it may aim for $0.00003500 or higher. For this to happen, trading volume and market participation must increase. Without a boost in market activity, sustained bullish momentum appears unlikely. Related article: SHIB Burn Rate Skyrockets: Can It Boost the Price? The Relative Strength Index (RSI) signals market indecision. Currently, SHIB remains in a neutral zone, reflecting a lack of clear bullish or bearish dominance. This uncertainty makes it harder for the token to maintain its previous bullish momentum. Investors should keep a close eye on two critical levels: $0.00003300 on the upside and $0.00003000 on the downside. A breakout above $0.00003300 could signal a bullish reversal, while a breakdown below $0.00003000 might trigger a deeper decline. Given the market’s current indecisiveness, caution is advised as SHIB navigates this crucial resistance level.
SHIB Burn Rate Skyrockets: Can It Boost the Price?
The Shiba Inu (SHIB) community has significantly increased the burn rate of the meme coin, as revealed by Shibburn, a data tracker. Over the past 24 hours, the burn rate has skyrocketed by over 2,500%, with 68,170,710 SHIB removed from circulation. This dramatic increase has sparked anticipation among the SHIB community, which is closely watching the coin’s price movements as it attempts to surpass the $0.000033 resistance level. Major Burn Transactions Drive Surge Most of the burned tokens were destroyed in two significant transactions. The largest burn recorded involved 53,423,510 SHIB, while another transaction saw 14,742,910 SHIB sent to dead wallets. These transactions collectively contributed to the noteworthy rise in the burn rate. Just two days earlier, Shibburn reported an even larger increase in SHIB burns. The burn rate soared by 144,045%, with 2,041,299,351 SHIB permanently removed from circulation. Related article: Shiba Inu Supply Shrinks as Whale Burns Boost SHIB Value Among these, 2,020,624,700 SHIB were burned in a single transaction by @Shibtoshi_SG, the founder of SquidGrow cryptocurrency. Over the past week, the community has managed to burn a total of 2,985,633,942 SHIB coins, showcasing its commitment to reducing the circulating supply. Price Movements Amid Burning Activity Despite the aggressive burning, SHIB’s price has struggled to maintain upward momentum. Over the last 24 hours, SHIB’s value declined by approximately 8.55%, dropping from $0.000033 to $0.000030. This followed a 24% surge earlier in the week, during which SHIB made a second attempt to break above the $0.000033 resistance. Related article: Shiba Inu Lead Clarifies Role in Hawk Tuah Airdrop Controversy The recent burn activities demonstrate the community’s dedication to supporting SHIB’s long-term growth. Although the current price stands at $0.00003014, the repeated efforts to surpass key resistance levels indicate optimism. Investors remain hopeful that these burns will reduce supply and positively impact SHIB’s price in the future. As the week progresses, SHIB enthusiasts continue to monitor both burning metrics and price movements closely, expecting the coin to gain upward momentum soon.
