SHIB Burns Jump 936%, Price Reacts Unexpectedly

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As a seasoned researcher with years of experience observing and analyzing the cryptocurrency market, I find myself intrigued by the recent developments surrounding SHIB. The surge in burn rate is undeniably impressive, with a staggering 936% increase over the last 24 hours – a testament to the dedication of the SHIB army.

The Shibburn monitoring system announced that there’s been a significant acceleration in the rate at which Shiba Inu (SHIB) meme tokens are leaving the active supply. Over several million SHIB tokens have been moved into inactive wallets.

Despite 10 times more SHIB being burned over the last week, our weekly burn rate is still showing a deficit at the moment.

Currently, despite the success of the Shiba Inu community in burning tokens this time, the Shib price is showing little directional movement.

Burn rate soars 936%

As an analyst, I’ve observed some intriguing trends from data gathered via Shibburn. Over the past day, approximately 6.7 million SHIB meme coins have been moved to irreversible wallets on the blockchain, leading to a staggering 936.52% increase in the daily burn rate. This significant shift is certainly worth further investigation.

The two largest transactions carried 3,507,923 and 2,300,437 SHIB out of circulation.

Hourly Shiba Inu Update:

— Shibburn (@shibburn) December 23, 2024

As a researcher, I’ve noticed a significant drop – approximately 60% – in the rate at which Shiba Inu (SHIB) tokens are being burned over the past week. This decrease translates to roughly 62,381,241 SHIB coins that have been permanently removed from circulation and secured in unspendable wallets.

SHIB market performance

As an analyst, I was taken aback last Friday when Shiba Inu (SHIB), the world’s second-largest meme cryptocurrency by market cap, experienced a significant surge of around 30%. This jump propelled its value from $0.00001859 to $0.00002406.

Recently, the widely recognized meme coin Shiba Inu (SHIB) has experienced a 9.61% drop, with its current trading price at approximately $0.00002168. This week, SHIB has been moving horizontally, attempting to surpass the resistance level of $0.00002200.

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2024-12-23 19:03