{"id":557497,"date":"2023-10-25T16:00:59","date_gmt":"2023-10-25T16:00:59","guid":{"rendered":"https:\/\/wncen.com\/?p=557497"},"modified":"2024-06-11T07:48:07","modified_gmt":"2024-06-11T07:48:07","slug":"shiba-inu-burn-rate-falls-80","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-falls-80\/","title":{"rendered":"Shiba Inu Burn Rate Falls 80%, Is It Time To Sell?"},"content":{"rendered":"

The Shiba Inu community burn rate<\/a> has seen a significant decline over the last few days. The burn rate which had been on a tear earlier in the month started to recede and has fallen double-digits in the last 24 hours alone. Given that this burn initiative was implemented to reduce supply and increase the price in the process, this decline in burn rate could have an impact on SHIB\u2019s price performance<\/a>.<\/p>\n

Shiba Inu Burn Rate Down Over 80%<\/h2>\n

As data from the Shiba Inu burn tracking website, Shibburn, shows, the Shiba Inu burn rate is down more than 80% in the last day. The reason for this decline is lower participation in the burn rate, as investors have turned their focus to the surging crypto market prices.<\/p>\n

Related Reading: Bitcoin: On-Chain Tracker Points Out Interesting Difference Between Current And Past Rallies<\/a><\/div>\n

At this time, only 29.98 million SHIB have been burned. Compared to the figures from earlier in the month which often came out above 100 million tokens burned, it shows a serious lack of participation from the Shiba Inu community members.<\/p>\n

\"Shiba<\/p>\n

Burn rate down 80% | Source: Shibburn<\/a><\/pre>\n
Burns have come from over 40 wallets but the number of SHIB<\/a> each transaction was carrying was very small, hence the lackluster burn rate recorded at this time. However, on the weekly time frame, the burn rate is faring much better, as the burn tracker revealed<\/a> on X (formerly Twitter) that it has seen a 61.82% increase. This means that over 362.4 million tokens were incinerated in the seven-day period.<\/p>\n
Will This Affect The SHIB Price?<\/h2>\n
A look at the Shiba Inu price chart shows that the meme coin<\/a> has seen a slowdown in its rally over the last day. But this has not completely eliminated the bullish tendencies that the SHIB price has shown. For example, whales are not giving up on the crypto and are instead choosing to accumulate through the twists and turns.<\/p>\n
As Bitcoinist reported<\/a>, Shiba Inu whales picked up 4.52 trillion tokens from the market, which saw the price rally resume once more. This shows that these large players expect the price to continue to rally<\/a>, especially in the short term, making it a good time to be in the cryptocurrency.<\/p>\n
Related Reading: Pro-XRP Legal Expert Shares Expectations If SEC Wins Appeal Against Ripple<\/a><\/div>\n
However, there has been a significant decline in the excitement and participation in the SHIB token<\/a>. CoinMarketCap data shows a 20.94% decrease in its daily trading volume, which suggests that sellers may be gaining ground.<\/p>\n
Nevertheless, Shiba Inu has done a good job of sticking with the Bitcoin rally<\/a>. And if the leading cryptocurrency continues its upward march<\/a>, Shiba Inu\u2019s tendency to follow the same path will see its value rise despite the decrease in burn rate.<\/p>\n
\"Ethereum<\/p>\n
SHIB holds $0.000007 | Source: SHIBUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Freepik, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Shiba Inu community burn rate has seen a significant decline over the last few days. The burn rate which had been on a tear earlier in the month started to recede and has fallen double-digits in the last 24 hours alone. Given that this burn initiative was implemented to reduce supply and increase the price in the process, this decline in burn rate could have an impact on SHIB\u2019s price performance. Shiba Inu Burn Rate Down Over 80% As data from the Shiba Inu burn tracking website, Shibburn, shows, the Shiba Inu burn rate is down more than 80% in the last day. The reason for this decline is lower participation in the burn rate, as investors have turned their focus to the surging crypto market prices. Related Reading: Bitcoin: On-Chain Tracker Points Out Interesting Difference Between Current And Past Rallies At this time, only 29.98 million SHIB have been burned. Compared to the figures from earlier in the month which often came out above 100 million tokens burned, it shows a serious lack of participation from the Shiba Inu community members. Burn rate down 80% | Source: Shibburn Burns have come from over 40 wallets but the number of SHIB each transaction was carrying was very small, hence the lackluster burn rate recorded at this time. However, on the weekly time frame, the burn rate is faring much better, as the burn tracker revealed on X (formerly Twitter) that it has seen a 61.82% increase. This means that over 362.4 million tokens were incinerated in the seven-day period. Will This Affect The SHIB Price? A look at the Shiba Inu price chart shows that the meme coin has seen a slowdown in its rally over the last day. But this has not completely eliminated the bullish tendencies that the SHIB price has shown. For example, whales are not giving up on the crypto and are instead choosing to accumulate through the twists and turns. As Bitcoinist reported, Shiba Inu whales picked up 4.52 trillion tokens from the market, which saw the price rally resume once more. This shows that these large players expect the price to continue to rally, especially in the short term, making it a good time to be in the cryptocurrency. Related Reading: Pro-XRP Legal Expert Shares Expectations If SEC Wins Appeal Against Ripple However, there has been a significant decline in the excitement and participation in the SHIB token. CoinMarketCap data shows a 20.94% decrease in its daily trading volume, which suggests that sellers may be gaining ground. Nevertheless, Shiba Inu has done a good job of sticking with the Bitcoin rally. And if the leading cryptocurrency continues its upward march, Shiba Inu\u2019s tendency to follow the same path will see its value rise despite the decrease in burn rate. SHIB holds $0.000007 | Source: SHIBUSDT on Tradingview.com Featured image from Freepik, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":557501,"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":[83668,89660,89178,84473,89716,83667,89181,89157,84562,84558],"class_list":["post-557497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-burn-rate","tag-shib-news","tag-shib-price","tag-shib-price-performance","tag-shiba-inu","tag-shiba-inu-burn","tag-shiba-inu-news","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Burn Rate Falls 80%, Is It Time To Sell?<\/title>\n<meta name=\"description\" content=\"The Shiba Inu community burn rate has seen a significant decline over the last few days, 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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:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Burn Rate Falls 80%, Is It Time To Sell?","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-falls-80\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-falls-80\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Shiba-Inu-SHIB-burn-rate-Small.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Shiba-Inu-SHIB-burn-rate-Small.jpeg?fit=320%2C213"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shib burn rate","shib news","shib price","shib price performance","shiba inu","shiba inu burn","shiba inu news","shibusd","shibusdt"],"dateCreated":"2023-10-25T16:00:59Z","datePublished":"2023-10-25T16:00:59Z","dateModified":"2024-06-11T07:48:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Burn Rate Falls 80%, Is It Time To Sell?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-falls-80\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-falls-80\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Shiba-Inu-SHIB-burn-rate-Small.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Shiba-Inu-SHIB-burn-rate-Small.jpeg?fit=320%2C213\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shib burn rate\",\"shib news\",\"shib price\",\"shib price performance\",\"shiba inu\",\"shiba inu burn\",\"shiba inu news\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-10-25T16:00:59Z\",\"datePublished\":\"2023-10-25T16:00:59Z\",\"dateModified\":\"2024-06-11T07:48:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Shiba-Inu-SHIB-burn-rate-Small.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/557497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=557497"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/557497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/557501"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=557497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=557497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=557497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}