{"id":555585,"date":"2023-10-16T16:00:20","date_gmt":"2023-10-16T16:00:20","guid":{"rendered":"https:\/\/www.wncen.com\/?p=555585"},"modified":"2024-06-11T07:19:48","modified_gmt":"2024-06-11T07:19:48","slug":"shiba-inu-explosive-211-shib-burn","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/shiba-inu-coin\/shiba-inu-explosive-211-shib-burn\/","title":{"rendered":"Shiba Inu Starts Off Strong With An Explosive 233% In SHIB Burn Rate"},"content":{"rendered":"

The Shiba Inu ecosystem has started out the new week on a particularly positive note. The burn rate<\/a>, which is a community initiative to reduce the massive supply of the token, has seen a significant jump as the price of the meme coin has recovered.<\/p>\n

SHIB Burn Rises 233%<\/h2>\n

A Monday report by Shiba Inu burn tracking website Shibburn showed that the SHIB<\/a> burn rate has seen an impressive 233% climb. This puts a turn on the particularly slow weekend which saw burn rates decline rapidly.<\/p>\n

Related Reading: By The Numbers: Bitcoin Hashrate Poised To Complete 100% Growth In 2023<\/a><\/div>\n

As the new trading week opens up, the total SHIB tokens burned<\/a> during this time has crossed 56.98 million. This was the result of tokens being sent to the burn address across 29 addresses, with more than 3.7 million tokens sent to the burn address in the last hour as of the time of this writing.<\/p>\n

\"Shiba<\/p>\n

Burn rate spikes 233% | Source: Shibburn<\/a><\/pre>\n
The token burn also led<\/a> to an increase in the burn rate for the last week as well. Monday\u2019s burn figures saw the weekly burn total rise above 316.7 million. This is a 26% increase in the burn rate compared to the previous seven days.<\/p>\n
Some of the largest burns came from the \u20180x909a9\u2019 and \u20180x4be2\u2019 addresses. Both addresses burned a total of 7,119,784 million and 8,095,490 million tokens respectively. The total comes out to over 15 million tokens, accounting for around 27% of the total burns for the day.<\/p>\n
\"Shiba<\/p>\n
SHIB price holding $0.0000071 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Shiba Inu Sees Price Recovery<\/h2>\n
On Sunday, the price of Bitcoin<\/a> surged toward the $28,000 level, and in response, the rest of the crypto market<\/a> followed the flagship cryptocurrency. Shiba Inu was no different and finally saw a reversal in its bull stretch since the month began.<\/p>\n
Shiba Inu rose around 1.24% in the 24-hour period and although this is not as impressive as some of the recoveries mounted by other assets, it has helped the cryptocurrency to secure its support at $0.000007. This gives bulls some wiggle room as they regain their bearings in the market.<\/p>\n
Related Reading: How Ripple\u2019s Rumored Token Burn Could Affect The XRP Price<\/a><\/div>\n
However, Shiba Inu is still seeing small losses of 0.59% on the weekly chart. This suggests that the bulls\u2019 hold on the asset is weak and bears could regain control if momentum slips. This battle for control is mirrored by the daily trading volume of the crypto<\/a> which is up 25.85% and sitting at $101.7 million, according to data from CoinMarketCap.<\/p>\n
So far, there doesn\u2019t seem to be any special event pushing the price of SHIB besides the Bitcoin recovery<\/a>. Given this, if the Bitcoin<\/a> rally ends, then SHIB will most likely follow<\/a> and fall into losses again.<\/p>\n
Featured image from U.Today, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Shiba Inu ecosystem has started out the new week on a particularly positive note. The burn rate, which is a community initiative to reduce the massive supply of the token, has seen a significant jump as the price of the meme coin has recovered. SHIB Burn Rises 233% A Monday report by Shiba Inu burn tracking website Shibburn showed that the SHIB burn rate has seen an impressive 233% climb. This puts a turn on the particularly slow weekend which saw burn rates decline rapidly. Related Reading: By The Numbers: Bitcoin Hashrate Poised To Complete 100% Growth In 2023 As the new trading week opens up, the total SHIB tokens burned during this time has crossed 56.98 million. This was the result of tokens being sent to the burn address across 29 addresses, with more than 3.7 million tokens sent to the burn address in the last hour as of the time of this writing. Burn rate spikes 233% | Source: Shibburn The token burn also led to an increase in the burn rate for the last week as well. Monday\u2019s burn figures saw the weekly burn total rise above 316.7 million. This is a 26% increase in the burn rate compared to the previous seven days. Some of the largest burns came from the \u20180x909a9\u2019 and \u20180x4be2\u2019 addresses. Both addresses burned a total of 7,119,784 million and 8,095,490 million tokens respectively. The total comes out to over 15 million tokens, accounting for around 27% of the total burns for the day. SHIB price holding $0.0000071 | Source: SHIBUSD on Tradingview.com Shiba Inu Sees Price Recovery On Sunday, the price of Bitcoin surged toward the $28,000 level, and in response, the rest of the crypto market followed the flagship cryptocurrency. Shiba Inu was no different and finally saw a reversal in its bull stretch since the month began. Shiba Inu rose around 1.24% in the 24-hour period and although this is not as impressive as some of the recoveries mounted by other assets, it has helped the cryptocurrency to secure its support at $0.000007. This gives bulls some wiggle room as they regain their bearings in the market. Related Reading: How Ripple\u2019s Rumored Token Burn Could Affect The XRP Price However, Shiba Inu is still seeing small losses of 0.59% on the weekly chart. This suggests that the bulls\u2019 hold on the asset is weak and bears could regain control if momentum slips. This battle for control is mirrored by the daily trading volume of the crypto which is up 25.85% and sitting at $101.7 million, according to data from CoinMarketCap. So far, there doesn\u2019t seem to be any special event pushing the price of SHIB besides the Bitcoin recovery. Given this, if the Bitcoin rally ends, then SHIB will most likely follow and fall into losses again. Featured image from U.Today, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":555595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,86002,89660,89178,84473,89661,83667,89181,89157,84562,84558],"class_list":["post-555585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-burn","tag-shib-burn-rate","tag-shib-news","tag-shib-price","tag-shib-token","tag-shiba-inu","tag-shiba-inu-burn","tag-shiba-inu-news","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Starts Off Strong With An Explosive 233% In SHIB Burn Rate<\/title>\n<meta name=\"description\" content=\"The Shiba Inu ecosystem has started out the new week on a particularly positive note as the price of the meme coin has 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/www.wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Starts Off Strong With An Explosive 233% In SHIB Burn Rate","url":"http:\/\/www.wncen.com\/news\/shiba-inu-coin\/shiba-inu-explosive-211-shib-burn\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/shiba-inu-coin\/shiba-inu-explosive-211-shib-burn\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/10\/Shiba-Inu-SHIB-burn-Small.jpeg?resize=200%2C180","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/10\/Shiba-Inu-SHIB-burn-Small.jpeg?fit=320%2C180"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shib burn","shib burn rate","shib news","shib price","shib token","shiba inu","shiba inu burn","shiba inu news","shibusd","shibusdt"],"dateCreated":"2023-10-16T16:00:20Z","datePublished":"2023-10-16T16:00:20Z","dateModified":"2024-06-11T07:19:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Starts Off Strong With An Explosive 233% In SHIB Burn Rate\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-explosive-211-shib-burn\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-explosive-211-shib-burn\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Shiba-Inu-SHIB-burn-Small.jpeg?resize=200%2C180\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Shiba-Inu-SHIB-burn-Small.jpeg?fit=320%2C180\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shib burn\",\"shib burn rate\",\"shib news\",\"shib price\",\"shib token\",\"shiba inu\",\"shiba inu burn\",\"shiba inu news\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-10-16T16:00:20Z\",\"datePublished\":\"2023-10-16T16:00:20Z\",\"dateModified\":\"2024-06-11T07:19:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/10\/Shiba-Inu-SHIB-burn-Small.jpeg?fit=320%2C180","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/555585"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=555585"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/555585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/555595"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=555585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=555585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=555585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}