{"id":687417,"date":"2025-01-31T21:30:41","date_gmt":"2025-01-31T21:30:41","guid":{"rendered":"https:\/\/wncen.com\/?p=687417"},"modified":"2025-01-31T12:18:41","modified_gmt":"2025-01-31T12:18:41","slug":"shiba-inu-burn-rate-explodes","status":"publish","type":"post","link":"https:\/\/wncen.com\/shiba-inu\/shiba-inu-burn-rate-explodes\/","title":{"rendered":"Shiba Inu Burn Rate Explodes 7,240% With 1.1 Billion Tokens Burned In 24 Hours, What’s Driving It?"},"content":{"rendered":"

The <\/span>Shiba Inu burn rate<\/span><\/a> has experienced a dramatic surge, exploding by an astonishing 7,240% in just one day. This massive surge has led to the removal of over 1.1 billion tokens from circulation, effectively reducing the <\/span>token\u2019s significant supply<\/span><\/a>. The latest sharp increase in SHIB burns have also caught the attention of the crypto market, bringing focus to the factors driving this substantial surge and its potential impact on the meme coin.\u00a0<\/span><\/p>\n

What\u2019s Driving The Surge In Shiba Inu Burn Rate\u00a0<\/b><\/h2>\n

Shibburn, a token burn tracker, has <\/span>reported<\/span><\/a> a massive 7,240.75% <\/span>increase in Shiba Inu burn rate<\/span><\/a> in the past 24 hours. Astonishingly, this substantial token burn led to the permanent removal of approximately 1,104,706,719 SHIB tokens from circulation.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Burn Rate Sees Major 600% Jump In Only 24 Hours, Will SHIB Price Follow Suit?<\/a><\/div>\n

Notably, the driving force behind this massive SHIB burn was identified to be a single wallet. This anonymous wallet address, ox6d0cf1f\u2026, was <\/span>responsible<\/span><\/a> for more than 95% of this substantial Shiba Inu burn, sending approximately 1,000,148,675 SHIB tokens to a dead wallet.\u00a0<\/span><\/p>\n

Following this, another address initiated a 100,000,000 SHIB burn, contributing to a <\/span>significant amount of the burn activity<\/span><\/a>. These combined efforts from Shiba Inu enthusiasts and community members have significantly impacted the <\/span>circulating supply of SHIB<\/span><\/a>, increasing the possibilities of a price surge in the meme coin.\u00a0<\/span><\/p>\n

Typically, token burns are executed with the intention to increase scarcity and <\/span>potentially drive up the value of a token<\/span><\/a> over time. Since its inception in 2020, a total of 410.74 trillion SHIB tokens have been burnt from its initial supply of 999.98 trillion.\u00a0<\/span><\/p>\n

Currently, the total supply of this meme coin stands at 589.2 trillion, reflecting a 41% decrease from its original amount. This reduction occurred in less than 5 years, marking a significant milestone for the <\/span>Shiba Inu ecosystem<\/span><\/a>. If burn rate continues to skyrocket, it could cause further deflation of supply, potentially leading to <\/span>goals of many Shiba Inu community members<\/span><\/a>, which is to drive the value of the meme coin to over $1.\u00a0<\/span><\/p>\n

SHIB Price Dips Seen As Golden Opportunity<\/b><\/h2>\n

Despite the increase in Shiba Inu\u2019s burn rate, its price has remained unaffected, even <\/span>declining<\/span><\/a> by over $8.3% in the past week. The doggy-themed <\/span>meme coin crashed<\/span><\/a> from its previous high above $0.00002 to $0.0000186 as of writing.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Price Gearing Up To Fly After Lows, Here\u2019s The Target<\/a><\/div>\n

While Shiba Inu faces this bearish trend, a crypto analyst SHIB Bezos, has <\/span>highlighted<\/span><\/a> the significant <\/span>buying opportunities<\/span><\/a> investors could take advantage of during this time. The analyst suggests that at some point, Shiba Inu will become oversold, and sellers will eventually get \u201cexhausted\u201d, leading to a <\/span>rise in the price of the meme coin<\/span><\/a>. Ahead of this increase, SHIB Bezos urges investors to take advantage of dip opportunities to buy more SHIB tokens at a discount and HODL for a long term growth potential of about 5-10 years.<\/span><\/p>\n

\"Shiba
SHIB trading at $0.000018 on the 1D chart | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Shiba Inu burn rate has experienced a dramatic surge, exploding by an astonishing 7,240% in just one day. This massive surge has led to the removal of over 1.1 billion tokens from circulation, effectively reducing the token\u2019s significant supply. The latest sharp increase in SHIB burns have also caught the attention of the crypto market, bringing focus to the factors driving this substantial surge and its potential impact on the meme coin.\u00a0 What\u2019s Driving The Surge In Shiba Inu Burn Rate\u00a0 Shibburn, a token burn tracker, has reported a massive 7,240.75% increase in Shiba Inu burn rate in the past 24 hours. Astonishingly, this substantial token burn led to the permanent removal of approximately 1,104,706,719 SHIB tokens from circulation.\u00a0 Related Reading: Shiba Inu Burn Rate Sees Major 600% Jump In Only 24 Hours, Will SHIB Price Follow Suit? Notably, the driving force behind this massive SHIB burn was identified to be a single wallet. This anonymous wallet address, ox6d0cf1f\u2026, was responsible for more than 95% of this substantial Shiba Inu burn, sending approximately 1,000,148,675 SHIB tokens to a dead wallet.\u00a0 Following this, another address initiated a 100,000,000 SHIB burn, contributing to a significant amount of the burn activity. These combined efforts from Shiba Inu enthusiasts and community members have significantly impacted the circulating supply of SHIB, increasing the possibilities of a price surge in the meme coin.\u00a0 Typically, token burns are executed with the intention to increase scarcity and potentially drive up the value of a token over time. Since its inception in 2020, a total of 410.74 trillion SHIB tokens have been burnt from its initial supply of 999.98 trillion.\u00a0 Currently, the total supply of this meme coin stands at 589.2 trillion, reflecting a 41% decrease from its original amount. This reduction occurred in less than 5 years, marking a significant milestone for the Shiba Inu ecosystem. If burn rate continues to skyrocket, it could cause further deflation of supply, potentially leading to goals of many Shiba Inu community members, which is to drive the value of the meme coin to over $1.\u00a0 SHIB Price Dips Seen As Golden Opportunity Despite the increase in Shiba Inu\u2019s burn rate, its price has remained unaffected, even declining by over $8.3% in the past week. The doggy-themed meme coin crashed from its previous high above $0.00002 to $0.0000186 as of writing.\u00a0 Related Reading: Shiba Inu Price Gearing Up To Fly After Lows, Here\u2019s The Target While Shiba Inu faces this bearish trend, a crypto analyst SHIB Bezos, has highlighted the significant buying opportunities investors could take advantage of during this time. The analyst suggests that at some point, Shiba Inu will become oversold, and sellers will eventually get \u201cexhausted\u201d, leading to a rise in the price of the meme coin. Ahead of this increase, SHIB Bezos urges investors to take advantage of dip opportunities to buy more SHIB tokens at a discount and HODL for a long term growth potential of about 5-10 years. Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":687423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[12609,84471,83668,94124,86002,89178,84473,83667,89181,89345,94021,89157,86437,88130,84562,84558],"class_list":["post-687417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-hodl","tag-meme-coin","tag-shib","tag-shib-bezos","tag-shib-burn","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-burn","tag-shiba-inu-community","tag-shiba-inu-ecosystem","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibburn","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Burn Rate Explodes 7,240% With 1.1 Billion Tokens Burned In 24 Hours, What's Driving It?<\/title>\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. 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