Shiba

Kusama

Arthur

Bonk

Shiba Inu

The Shiba Inu team successfully completed another <a href="https://coingape.com/education/understanding-impact-of-shibarium-on-the-shib-inu-ecosystem/" target="_blank" rel="noopener">Shibarium</a>-powered burn of more than 8 billion. The move comes as lead developer <a href="https://coingape.com/shiba-inu-lead-shytoshi-kusama-confirms-over-1-million-in-shib-and-bone-burn/" target="_blank" rel="noopener">Shytoshi Kusama confirmed</a> last week that only SHIB tokens will be burned from the BONE accumulation for SHIB burn on Shibarium. The community expected a burn valued at least $1 million. 
<h2 id="arthur-hayes-sees-bonk-topping-shiba-inu">Arthur Hayes Sees Bonk Topping Shiba Inu</h2> 
BitMEX co-founder Arthur Hayes in a post on X predicted that Bonk (BONK) meme coin will flip Shiba Inu (SHIB) to become the 2nd largest dog-themed meme coin. 
It follows after <a href="https://coingape.com/binance-launches-zero-fee-bonk-trading-option-for-users/" target="_blank" rel="noopener">Bonk was listed</a> on Coinbase, Binance, Crypto.com and other top crypto exchanges last week. Bonk price rallied over 1000% in a month. However, the price has now dropped from ATH of $0.0000341 to $0.0000201 amid profit booking. Also, the Saga Mobile phones sold out amid massive demand due to Bonk airdrop. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Let’s do the damn thang.<a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONK</a> &gt; <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/ZQB1WecBEl">pic.twitter.com/ZQB1WecBEl</a> 
 — Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1736532715615437190?ref_src=twsrc%5Etfw">December 17, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Meanwhile, the Shiba Inu team has sent 8,615,169,427 SHIB tokens worth $85K to the burn address. It is part of BONE accumulation for SHIB burn on Shibarium. It has now reached 1.41 million BONE worth over $1.05 million. The community expected a massive $1 million worth SHIB burn to reduce the circulating supply of tokens, which help fuel Shiba Inu ecosystem tokens’ prices. 
Also Read: <a title="Stacks (STX) Skyrockets 15% As STX20 Inscription Minting Causes Network Congestion" href="https://coingape.com/stacks-stx-skyrockets-15-as-stx20-inscription-minting-causes-network-congestion/" target="_blank" rel="bookmark noopener">Stacks (STX) Skyrockets 15% As STX20 Inscription Minting Causes Network Congestion</a> 
<h2 id="shib-price-drops">SHIB Price Drops</h2> 
Shiba Inu burn mechanism is expected to burn trillions of tokens, making the SHIB price to hit $0.01. However, Shiba Inu team burning only $85K worth SHIB tokens resulted in a selloff in SHIB tokens, as well as BONE. 
<a href="https://coingape.com/price/shiba-inu" target="_blank" rel="noopener">SHIB price</a> fell over 8% in the past 24 hours, with the price currently trading at $0.00000982. The 24-hour low and high are $0.00000974 and $0.00001072, respectively. Moreover, the treading volume has also fallen immensely in the last 24 hours. 
Meanwhile, BONK price trades at $0.0000198, down 8% in the last 24 hours. 
Also Read: <a href="https://coingape.com/bitcoin-bull-run-at-risk-analyst-flags-concerns-as-network-growth-stalls/" target="_blank" rel="noopener">Bitcoin’s Bull Run at Risk? Analyst Flags Concerns As Network Growth Stalls</a> 
The post <a href="https://coingape.com/arthur-hayes-bonk-shiba-inu-shibarium-burns-another-8-billion-shib/">Athur Hayes Predicts Bonk Flipping Shiba Inu; Shibarium Burns Another 8 Bln SHIB</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Athur Hayes Predicts Bonk Flipping Shiba Inu; Shibarium Burns Another 8 Bln SHIB

Table of Contents

Coingape News Media

Other articles published on Dec 18, 2023

Crypto Whales Heavily Loading Up on Ethereum, Accumulate $230,000,000 in ETH in One Week: Trader

SyncSpace Aurory Bridge Hacked; 80% liquidity, $600k AURY Lost

Alchemy Pay - Your Gateway to Global Fiat-Crypto Transactions

Here is the Bullish Trade Setup for the Dogecoin (DOGE) Price to Reach $0.1

XRP Price Can Face 10% Pullback to $0.55 As Per Technical Charts

Ripple CTO Weighs in on Puzzling Correlation Between XRP and XLM

Join our free newsletter for daily crypto updates!