Shiba

2024

Burn

Shiba Inu

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 <p>Following the rather volatile start to 2024 the meme coin has faced, Shiba Inu (SHIB) has seen its burn rate surge <a rel="dofollow" title="2274%" href="https://thebittimes.com/tag/2274.html">2274%</a> at the end of the new year’s first week. Moreover, the asset is set to face a key support level, as its price is just below the $0.00001 mark. The burn activity could become a catalyst for positive price movement. </p> 
 <p>Shiba Inu took to X (formerly Twitter) to share its strategy for the new year. Specifically, it stated its goal to “Make Shibarium great.” That message was shared as the layer-2 network has surpassed a host of milestones over the last week. Altogether, it could be the boost that the token needs to reverse its recent declines. </p> 
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  <img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp" alt="Shiba Inu Burn Rate Surges 161540.53%; SHIB Price Reacts" class="wp-image-122595" srcset="https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 1024w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 768w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 1536w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 380w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 550w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 800w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 1160w, https://cdn.thebittimes.com/images/2024/01/06/4a9b7115254dab0fca281e29ab7ad774.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p><strong>Also Read: Shiba Inu: Shibarium To Burn 10 Trillion SHIB in January 2024?</strong></p> 
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 <h2 class="wp-block-heading" id="h-shib-burn-rate-surges-as-price-reversal-could-be-in-store">SHIB Burn Rate Surges as Price Reversal Could be In-Store </h2> 
 <p>Few digital assets boast as passionate a community as Shiba Inu. One of the most popular meme coins on the market, the asset has entered 2024 with some apparent optimism. Despite recent setbacks in its price, it could be poised to meet those expectations based on recent developments. </p> 
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 <p>Specifically, Shiba Inu (SHIB) has seen its burn rate surge by a remarkable <a rel="dofollow" title="2274%" href="https://thebittimes.com/tag/2274.html">2274%</a>, with an incredible 5.2 million tokens burned in 24 hours. Moreover, the mass amount of SHIB was set ablaze in 28 separate transactions. Altogether the figures continue from the 25 million SHIB tokens that were burned in all of December. During the </p> 
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    <p lang="en" dir="ltr">In the past 24 hours, there have been a total of 5,203,527 $SHIB tokens burned and 28 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/45DL6Cr5K3</p>— Shibburn (@shibburn) January 5, 2024
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 <p><strong>Also Read: Shiba Inu: What Happens If 90% of SHIB Tokens Are Burned?</strong></p> 
 <p>The burn rate surge arrives as the asset is facing a rather crucial support level. Currently, the token is trading at $0.0000096, and is down more than 3% over the last 24 hours, according to CoinMarketCap. If the asset is going to securely eliminate another zero, it’s going to need to be elevated immensely over the next couple of days. </p> 
 <p>Although the yearly burn of 2022 where down more than 8% from 2023, the presence of Shibarium should help that. Indeed, developers revealed that the LAyer-2 network will work to burn SHIB tokens automatically. Such an integration should have massive implications on the assets’ burn rate, and the price of the token overall. </p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/shiba-inu-shib-burn-rate-up-2274-as-it-faces-a-key-support-tbt75751.html">https://thebittimes.com/shiba-inu-shib-burn-rate-up-2274-as-it-faces-a-key-support-tbt75751.html</a></p>

Shiba Inu (SHIB) Burn Rate Up 2274% As it Faces a Key Support

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TheBitTimes

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