SHIB Burn Rate Skyrockets 1,344% Amid Significant Price Shift

by

The rate at which Shiba Inu (SHIB) tokens are being destroyed has experienced a remarkable increase of over thirteen times its original amount within the SHIB community.

At a crucial point for Shiba Inu investors, the notable surge in token burning events takes place, potentially signaling a major price change for this popular dog-themed cryptocurrency.

Based on Shibburn’s X handle report, approximately 135 million SHIB tokens were destroyed in 12 transactions over the last 24 hours. This equates to a value of around $3,869 at current prices, marking a staggering 1,344% increase in the SHIB burn rate.

Over the last day, a grand total of 135,451,536 $SHIB tokens have been permanently removed from circulation through 12 distinct transactions. For up-to-date information on the current number of burned $SHIB tokens, circulating supply, and other relevant data, be sure to check out the link provided.— Shibburn (@shibburn) April 9, 2024

The SHIB burn rate surging at this time aligns with increasing buzz about Shiba Inu’s potential price trend.

In the past few weeks, SHIB‘s price has dropped, making investors keep a close eye on the market for indications of a possible price surge or notable price shift.

Over the past weekend, the wider cryptocurrency market experienced a surge in bullish energy. Bitcoin and leading digital currencies regained important resistance points. Shibu Inu (SHIB) joined the trend, climbing for three consecutive days starting April 6, but eventually gave way to profit-taking.

Currently, SHIB is priced at $0.00002827, representing a 1.83% decrease over the past 24 hours. On the positive side, the next resistance level for Shiba Inu is between $0.000031 and $0.000036. Notably, approximately 20.96 trillion SHIB were purchased by around 137,600 wallets at an average cost of $0.000033 in this price range.

If the cost of SHIB decreases more, the subsequent assistance stage lies between $0.000025 and $0.000027. Approximately 46,930 addresses purchased a total of 33.39 trillion SHIB at an ordinary price of $0.000026 during this timeframe.

Shiba Eternity update

Lucie, a team member of Shiba Inu, shared some recent news about the development of Shiba Eternity, the collectible card game in our community. Previously announced, this update for Shiba Eternity has generated widespread enthusiasm among SHIB supporters.

Lucie shares that the initial phase of the Shiba Eternity project is now active, receiving enhancements in the form of recent updates. She assures us that this momentum will persist, with continuous additions of fresh features and ongoing optimizations for the platform.

Lucie announces that the community can look forward to some thrilling advancements in kibbles and Shiboshis, including new features such as updated cards and a breeding system for Shiboshis. She also emphasizes that progress is being made at a rapid pace with the imminent arrival of the Shiba Eternity play-to-earn platform.

Read More

2024-04-09 15:41