SHIB Burns Collapse as Price Makes Unexpected Pivot

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As a seasoned researcher with a penchant for the quirky and meme-inspired world of cryptocurrencies, I find myself intrigued by the recent developments in the Shiba Inu ecosystem. The paradoxical situation where burn rates have plummeted while the price has surged is a fascinating study in market dynamics that I’ve never encountered before – it’s like watching a dog chase its own tail!

Based on recent data from the Shibburn blockchain monitor, the rate at which Shiba Inu tokens are being burned has significantly decreased. Meanwhile, the value of SHIB tokens appears to be heading in an entirely distinct direction.

SHIB burns vs SHIB price

Over the past day, I’m thrilled to report that the burn rate of SHIB meme coins has surpassed a significant milestone, dropping more than 64% since its initial value. This impressive achievement was made possible by the dedicated efforts of our community, who have managed to burn an astounding 3,166,691 SHIB tokens within the last 24 hours, as indicated on the Shibburn website.

Today, a total of six significant transactions have been executed, with the most substantial ones transferring approximately 1.04 million and 1.008 million Shiba Inu meme tokens each.

As an analyst, on Monday, I observed a slight increase in the burning of SHIB tokens within our community. This equated to a total of around 10 million SHIB being moved into permanently inaccessible digital wallets by us, the SHIB army.

Recently, as a crypto investor, I’ve noticed an interesting trend with Shiba Inu (SHIB). Contrary to what one might expect, the burn rate doesn’t seem directly tied to its price. Over the past day, this popular meme-based cryptocurrency has surprisingly surged more than 10%. Initially trading at $0.00002117, it’s now sitting at a new level of $0.00002336.

Shibarium approaches big new milestone

According to Shibariumscan, our layer-2 blockchain is nearly reaching a significant achievement. At present, we’ve handled an impressive 698,969,876 transactions, swiftly approaching the 700 million mark.

4.71 million transactions are being processed daily on Shibarium, marking a significant increase since December 12 when the count was at 4.58 million. Moreover, the “latest transaction” section has registered an additional 175,088 transfers. Currently, there are approximately 2.02 million wallets connected to this network.

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2024-12-24 19:25