{"id":461905,"date":"2024-09-23T09:00:28","date_gmt":"2024-09-23T09:00:28","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=856614"},"modified":"2024-09-23T09:00:28","modified_gmt":"2024-09-23T09:00:28","slug":"shiba-inu-burn-rate-skyrockets-over-1-7m-tokens-burned","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/23\/shiba-inu-burn-rate-skyrockets-over-1-7m-tokens-burned\/","title":{"rendered":"Shiba Inu Burn Rate Skyrockets, Over 1.7M Tokens Burned!"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-16-12.24.04-A-conceptual-digital-artwork-illustrating-a-significant-event-related-to-a-cryptocurrency.-The-scene-shows-a-Shiba-Inu-dog-cartoonish-and-stylized-s.webp\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><strong>Shiba Inu burn rate soared by 5,975.13%, with 1.729 million tokens destroyed in 24 hours.<\/strong><\/li>\n<li><strong>Shibarium\u2019s daily transactions jumped 70%, and wallet addresses reached 1.816 million.<\/strong><\/li>\n<\/ul>\n<hr>\n<p>According to Shibburn <a href=\"https:\/\/x.com\/shibburn\/status\/1837794013610381357\">data<\/a>, Shiba Inu (SHIB) has undergone a startling 5,975.13% rise in burn rate over the last 24 hours, with nearly 1.729 million tokens transferred to a burn wallet during this time.<\/p>\n<p>This sharp increase in burn rate demonstrates a significant effort by the Shiba Inu community to lower circulating supply, with the goal of increasing token scarcity and, potentially, value. Over the last week, the burn rate increased by 17.17%, resulting in the destruction of 38,884,384 SHIB tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">HOURLY SHIB UPDATE<a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SHIB<\/a> Price: $0.0000145 (1hr -1.41% \u25bc | 24hr 1.00% \u25b2 )<br \/>Market Cap: $8,547,542,114 (1.08% \u25b2)<br \/>Total Supply: 589,271,189,283,115<\/p>\n<p>TOKENS BURNT<br \/>Past 24Hrs: 1,729,224 (5975.13% \u25b2)<br \/>Past 7 Days: 38,884,384 (17.17% \u25b2)<\/p>\n<p>\u2014 Shibburn (@shibburn) <a href=\"https:\/\/twitter.com\/shibburn\/status\/1837794013610381357?ref_src=twsrc%5Etfw\">September 22, 2024<\/a><\/p>\n<\/blockquote>\n<h2><strong>SHIB Trading Volume Rises, But Market Cap Stays Steady&nbsp;<\/strong><\/h2>\n<p>SHIB is currently trading at about <strong>$0.00001478<\/strong>, slightly up<strong><span> 0.34%<\/span><\/strong> over the last 24 hours. The token\u2019s trading activity remains relatively active, with a daily transaction volume of $186.92 million. Despite this, trading volume amounts to only roughly 2.11% of the <span><a href=\"https:\/\/www.crypto-news-flash.com\/shiba-inu-shib-poised-for-rally-as-shytoshi-kusama-teases-tron-partnership\/\">SHIB<\/a><\/span> market cap, which is currently around $8.7 billion.<\/p>\n<p>Furthermore, as we previously <span><a href=\"https:\/\/www.crypto-news-flash.com\/shibarium-activity-soars-with-70-wallets-reach-1-8m\/\">noted<\/a><\/span>, activity inside the Shiba Inu ecosystem\u2019s Layer 2 solution, Shibarium, has increased significantly, indicating that people are becoming more interested and engaged.<\/p>\n<p>Daily transactions on the Shibarium network have increased by 70%, demonstrating renewed interest in using the ecosystem\u2019s capabilities. Shibarium\u2019s total value locked (TVL) has already reached $1.2 million, demonstrating the network\u2019s growing confidence and investment.<\/p>\n<p>Simultaneously, the number of Shibarium wallet addresses continues to grow, reaching an astonishing 1.816 million. These data illustrate Shibarium\u2019s rapid usage and its significance in strengthening Shiba Inu\u2019s standing in the larger cryptocurrency market.<\/p>\n<p>On the other hand, according to <span><a href=\"https:\/\/www.crypto-news-flash.com\/coinbase-classifies-xrp-and-shiba-inu-as-money-and-store-of-value-assets\/\">CNF<\/a><\/span>, Coinbase has designated Shiba Inu (SHIB) as a currency, emphasizing its capacity to serve as money or a store of value.<\/p>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu burn rate soared by 5,975.13%, with 1.729 million tokens destroyed in 24 hours. Shibarium\u2019s daily transactions jumped 70%, and wallet addresses reached 1.816 million. According to Shibburn data, Shiba Inu (SHIB) has undergone a startling 5,975.13% rise in burn rate over the last 24 hours, with nearly 1.729 million tokens transferred to a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":461906,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[10614,25,1806,1807],"class_list":{"0":"post-461905","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"tag-burn-rate","9":"tag-news","10":"tag-shib","11":"tag-shiba-inu"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/461905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=461905"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/461905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/461906"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=461905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=461905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=461905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}