{"id":574173,"date":"2024-02-09T11:20:05","date_gmt":"2024-02-09T11:20:05","guid":{"rendered":"https:\/\/wncen.com\/?p=574173"},"modified":"2024-06-11T08:15:51","modified_gmt":"2024-06-11T08:15:51","slug":"shiba-inu-burn-rate-spikes-by-nearly-200-as-price-recovers","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-spikes-by-nearly-200-as-price-recovers\/","title":{"rendered":"Shiba Inu Burn Rate Spikes By Nearly 200% As Price Recovers"},"content":{"rendered":"

Shiba Inu (SHIB), also known as “Doge Killer” within the cryptocurrency space, has experienced a notable increase in its burn rate, with millions of coins taken out of circulation.<\/p>\n

Shiba Inu Burn Rate Is On Fire<\/span><\/h2>\n

According to Shibburn, the platform that tracks Shiba Inu’s burn, the burn rate has increased significantly in the past day. <\/span>Data<\/span><\/a> from the tracking platform shows that the burn has risen by almost 200% in the past 24 hours.<\/span><\/p>\n

Related Reading: Shiba Inu Burn Rate Surges Over 1,400%, As Price Recovers<\/a><\/div>\n

Shibburn revealed that over 7 million SHIB tokens have been burnt in the last 24 hours. As of the time of writing, the number of SHIB destroyed is sitting at 7,648,382, resulting in the burn rate soaring by 191.69%.<\/span><\/p>\n

\"Shiba
Source: Shibburn<\/a><\/figcaption><\/figure>\n

The increase in burn rate today was triggered by two burn transactions. In less than 1 hour, a total of 7,621,237 Shiba Inu tokens were incinerated by the two <\/span>transactions<\/span><\/a>, according to Shibburn.<\/span><\/p>\n

In the first transaction, the unknown wallet address 0xa9d1e08c7793af6…7fb81d3e43 burned approximately 3.60 million SHIB over 8 hours ago. An hour later, a separate wallet address delivered about 4.01 million SHIB to the burn wallet.<\/span><\/p>\n

Shiba Inu burn initiative aims at reducing the quantity of SHIB tokens in circulation, hence decreasing the token’s total supply. As a result, the crypto asset becomes more scarce and potentially increases the value of Shiba Inu.<\/span><\/p>\n

Currently, data from Shibburn shows that Shiba Inu has burned about 410.70 trillion SHIB out of the total supply. The digital asset now boasts a circulating supply of 581.35 trillion SHIB from its initial supply of 999.98 trillion SHIB.\u00a0<\/span><\/p>\n

Billions Of SHIB Withdrawn From Coinbase<\/span><\/h2>\n

A recent report has revealed a massive shift in SHIB tokens, leaving the community to ponder on the reason behind the transfer. According to <\/span>Etherscan<\/span><\/a>, an unidentified wallet address 0xe44755….240090257 moved a whopping 225 billion SHIB from the decentralized exchange Coinbase.<\/span><\/p>\n

Related Reading: Shiba Inu Whale Accumulates Massive Holdings, Amid Price Recovery<\/a><\/div>\n

Etherscan shows that the withdrawal was carried out over the course of two days in two transactions. 132.22 billion SHIB tokens were transferred from <\/span>Coinbase<\/span><\/a> in the first transaction, and another 92.83 billion SHIB were sent from the platform on the next day.<\/span><\/p>\n

So far, the unidentified wallet address now solely holds about 225,057,952,422 SHIB valued at $2.10 million. <\/span>This event has piqued the interest of traders and investors in the crypto market, which further coincided with the recent rise in the price of SHIB. <\/span><\/p>\n

SHIB’s price is up by over 3% in the past 7 days, presently situated at $0.00000936. Meanwhile, its market cap is up by 2%, and its trading volume is down by over 16% in the past day.<\/span><\/p>\n

\"Shiba
SHIB trading at $0.00000941 on the 1D chart | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB), also known as “Doge Killer” within the cryptocurrency space, has experienced a notable increase in its burn rate, with millions of coins taken out of circulation. Shiba Inu Burn Rate Is On Fire According to Shibburn, the platform that tracks Shiba Inu’s burn, the burn rate has increased significantly in the past day. Data from the tracking platform shows that the burn has risen by almost 200% in the past 24 hours. Related Reading: Shiba Inu Burn Rate Surges Over 1,400%, As Price Recovers Shibburn revealed that over 7 million SHIB tokens have been burnt in the last 24 hours. As of the time of writing, the number of SHIB destroyed is sitting at 7,648,382, resulting in the burn rate soaring by 191.69%. The increase in burn rate today was triggered by two burn transactions. In less than 1 hour, a total of 7,621,237 Shiba Inu tokens were incinerated by the two transactions, according to Shibburn. In the first transaction, the unknown wallet address 0xa9d1e08c7793af6…7fb81d3e43 burned approximately 3.60 million SHIB over 8 hours ago. An hour later, a separate wallet address delivered about 4.01 million SHIB to the burn wallet. Shiba Inu burn initiative aims at reducing the quantity of SHIB tokens in circulation, hence decreasing the token’s total supply. As a result, the crypto asset becomes more scarce and potentially increases the value of Shiba Inu. Currently, data from Shibburn shows that Shiba Inu has burned about 410.70 trillion SHIB out of the total supply. The digital asset now boasts a circulating supply of 581.35 trillion SHIB from its initial supply of 999.98 trillion SHIB.\u00a0 Billions Of SHIB Withdrawn From Coinbase A recent report has revealed a massive shift in SHIB tokens, leaving the community to ponder on the reason behind the transfer. According to Etherscan, an unidentified wallet address 0xe44755….240090257 moved a whopping 225 billion SHIB from the decentralized exchange Coinbase. Related Reading: Shiba Inu Whale Accumulates Massive Holdings, Amid Price Recovery Etherscan shows that the withdrawal was carried out over the course of two days in two transactions. 132.22 billion SHIB tokens were transferred from Coinbase in the first transaction, and another 92.83 billion SHIB were sent from the platform on the next day. So far, the unidentified wallet address now solely holds about 225,057,952,422 SHIB valued at $2.10 million. This event has piqued the interest of traders and investors in the crypto market, which further coincided with the recent rise in the price of SHIB. SHIB’s price is up by over 3% in the past 7 days, presently situated at $0.00000936. Meanwhile, its market cap is up by 2%, and its trading volume is down by over 16% in the past day. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":563968,"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":[1393,7,87538,14470,83668,83667,88130,84562,84558],"class_list":["post-574173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-coinbase","tag-dogecoin","tag-dogecoin-killer","tag-etherscan","tag-shib","tag-shiba-inu","tag-shibburn","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Burn Rate Spikes By Nearly 200% As Price Recovers<\/title>\n<meta name=\"description\" content=\"Shiba Inu, (SHIB) has experienced a notable increase in its burn rate with millions of coins taken out of circulation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Burn Rate Spikes By Nearly 200% As Price Recovers","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-spikes-by-nearly-200-as-price-recovers\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-burn-rate-spikes-by-nearly-200-as-price-recovers\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-1353209053.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-1353209053.jpg?fit=2121%2C1414"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["coinbase","dogecoin","dogecoin killer","etherscan","shib","shiba inu","shibburn","shibusd","shibusdt"],"dateCreated":"2024-02-09T11:20:05Z","datePublished":"2024-02-09T11:20:05Z","dateModified":"2024-06-11T08:15:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Burn Rate Spikes By Nearly 200% As Price Recovers\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-spikes-by-nearly-200-as-price-recovers\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-burn-rate-spikes-by-nearly-200-as-price-recovers\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-1353209053.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-1353209053.jpg?fit=2121%2C1414\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"coinbase\",\"dogecoin\",\"dogecoin killer\",\"etherscan\",\"shib\",\"shiba inu\",\"shibburn\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2024-02-09T11:20:05Z\",\"datePublished\":\"2024-02-09T11:20:05Z\",\"dateModified\":\"2024-06-11T08:15:51Z\"}<\/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\/12\/iStock-1353209053.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/574173"}],"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\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=574173"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/574173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/563968"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=574173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=574173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=574173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}