{"id":569106,"date":"2024-01-11T20:00:06","date_gmt":"2024-01-11T20:00:06","guid":{"rendered":"https:\/\/wncen.com\/?p=569106"},"modified":"2024-06-11T10:08:23","modified_gmt":"2024-06-11T10:08:23","slug":"shiba-inu-9-35-billion-shib-burn","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-9-35-billion-shib-burn\/","title":{"rendered":"Shiba Inu Team\u2019s Record 9.35 Billion SHIB Burn Sends Burn Rate Soaring"},"content":{"rendered":"

The Shiba Inu burn rate<\/a> is not slowing down, especially now that the SHIB team has officially joined the effort. This participation from the Shiba Inu team has led to some of the largest daily SHIB burns<\/a> that have been recorded since the burn initiative started. And now, once again, the team has carried out another massive burn that sent the burn rate surging.<\/p>\n

Shiba Inu Team Burns 9.35 Billion Tokens<\/h2>\n

In the latest iteration of the Shiba Inu team burn<\/a>, a total of 9.35 billion SHIB have now been sent to the burn address. At the time of the transaction<\/a>, the 9.35 billion SHIB was worth a total of $92,953.36. This makes it the largest burn that the team has carried out since it began burning tokens.<\/p>\n

Related Reading: Cardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6<\/a><\/div>\n

The token burn which took place on January 9 triggered a substantial surge in the daily SHIB burn rate<\/a>. According to data<\/a> from the Shiba Inu burn tracking website Shibburn, the team\u2019s burn caused the burn rate to spike by 28,659% in the 24-hour period. This spike represents the highest spike in the burn rate in 2024 so far, suggesting a bullish start to the year for the token.<\/p>\n

However, the burn rate has since taken a nosedive as the burn figures fell short of expectations between Wednesday and Thursday. Shibburn data shows a 99.94% decline in the burn rate at the time of writing, with only a little over 5.3 million SHIB tokens burned in the last day.<\/p>\n

There have also been only four burn transactions<\/a> carried out in the 24-hour period at the time of writing, following the same trend from the last few days.<\/p>\n

\"Shiba<\/p>\n

SHIB price above $0.00001 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
SHIB Burn Gains Steam<\/h2>\n
Despite the decline in the burn rate in the last day, the community is still looking at more significant burns as time goes on. One of the developments that guarantee these burns is the fact that Shiba Inu burns are now being automated directly through the Shibarium network<\/a>.<\/p>\n
Related Reading: XRP Whales Make Big Moves Amid Market Volatility<\/a><\/div>\n
The burn automation was revealed by the Shiba Inu team which revealed that there will be a two-pronged approach to this process. The first, which is how the team has been burning tokens<\/a>, is manually sending tokens from the deployer wallet to the burn address.<\/p>\n
The second approach, which is the most significant, will see an automated SHIB burn system from Shibarium put in place in January. This automated burn mechanism has sparked excitement in the SHIB community as some expect as much as 9.25 trillion tokens to be burned monthly<\/a>.<\/p>\n
Featured image from CoinGape, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Shiba Inu burn rate is not slowing down, especially now that the SHIB team has officially joined the effort. This participation from the Shiba Inu team has led to some of the largest daily SHIB burns that have been recorded since the burn initiative started. And now, once again, the team has carried out another massive burn that sent the burn rate surging. Shiba Inu Team Burns 9.35 Billion Tokens In the latest iteration of the Shiba Inu team burn, a total of 9.35 billion SHIB have now been sent to the burn address. At the time of the transaction, the 9.35 billion SHIB was worth a total of $92,953.36. This makes it the largest burn that the team has carried out since it began burning tokens. Related Reading: Cardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6 The token burn which took place on January 9 triggered a substantial surge in the daily SHIB burn rate. According to data from the Shiba Inu burn tracking website Shibburn, the team\u2019s burn caused the burn rate to spike by 28,659% in the 24-hour period. This spike represents the highest spike in the burn rate in 2024 so far, suggesting a bullish start to the year for the token. However, the burn rate has since taken a nosedive as the burn figures fell short of expectations between Wednesday and Thursday. Shibburn data shows a 99.94% decline in the burn rate at the time of writing, with only a little over 5.3 million SHIB tokens burned in the last day. There have also been only four burn transactions carried out in the 24-hour period at the time of writing, following the same trend from the last few days. SHIB price above $0.00001 | Source: SHIBUSD on Tradingview.com SHIB Burn Gains Steam Despite the decline in the burn rate in the last day, the community is still looking at more significant burns as time goes on. One of the developments that guarantee these burns is the fact that Shiba Inu burns are now being automated directly through the Shibarium network. Related Reading: XRP Whales Make Big Moves Amid Market Volatility The burn automation was revealed by the Shiba Inu team which revealed that there will be a two-pronged approach to this process. The first, which is how the team has been burning tokens, is manually sending tokens from the deployer wallet to the burn address. The second approach, which is the most significant, will see an automated SHIB burn system from Shibarium put in place in January. This automated burn mechanism has sparked excitement in the SHIB community as some expect as much as 9.25 trillion tokens to be burned monthly. Featured image from CoinGape, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":569111,"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":[83668,86002,91153,83667,89181,89157,86437,89425,84562,84558],"class_list":["post-569106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-burn","tag-shib-team","tag-shiba-inu","tag-shiba-inu-burn","tag-shiba-inu-news","tag-shiba-inu-price","tag-shiba-inu-team","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Team\u2019s Record 9.35 Billion SHIB Burn Sends Burn Rate Soaring<\/title>\n<meta name=\"description\" content=\"The Shiba Inu burn rate is not slowing down, especially now that the SHIB team has officially joined the effort.\" \/>\n<meta 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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 Team\u2019s Record 9.35 Billion SHIB Burn Sends Burn Rate Soaring","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-9-35-billion-shib-burn\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-9-35-billion-shib-burn\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Shiba-Inu-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Shiba-Inu-1.jpeg?fit=1200%2C800"},"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","shib team","shiba inu","shiba inu burn","shiba inu news","shiba inu price","shiba inu team","shibusd","shibusdt"],"dateCreated":"2024-01-11T20:00:06Z","datePublished":"2024-01-11T20:00:06Z","dateModified":"2024-06-11T10:08:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Team\\u2019s Record 9.35 Billion SHIB Burn Sends Burn Rate Soaring\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-9-35-billion-shib-burn\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-9-35-billion-shib-burn\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Shiba-Inu-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Shiba-Inu-1.jpeg?fit=1200%2C800\"},\"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\",\"shib team\",\"shiba inu\",\"shiba inu burn\",\"shiba inu news\",\"shiba inu price\",\"shiba inu team\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2024-01-11T20:00:06Z\",\"datePublished\":\"2024-01-11T20:00:06Z\",\"dateModified\":\"2024-06-11T10:08:23Z\"}<\/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\/2024\/01\/Shiba-Inu-1.jpeg?fit=1200%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569106"}],"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=569106"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/569111"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=569106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=569106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=569106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}