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Shiba Inu

<p class="is-style-lead">The Shiba Inu token (<a href="https://crypto.news/price/shiba-inu/" target="_blank" rel="noreferrer noopener">SHIB</a>) has achieved a noteworthy feat after exceeding 3.7 million addresses.</p> 
<p>According to information provided by <a href="https://studio.glassnode.com/metrics?a=SHIB&amp;category=Addresses&amp;m=addresses.Count&amp;s=1596240000&amp;u=1704499200&amp;zoom=" target="_blank" rel="noreferrer noopener">Glassnode</a>, the total number of unique addresses that have ever appeared in a SHIB transaction has risen to about 3.74 million.</p> 
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<p>Data from CoinMarketCap painted a more concise picture, <a href="https://coinmarketcap.com/currencies/shiba-inu/#Analytics" target="_blank" rel="noreferrer noopener">revealing</a> that out of the 3.74 million addresses, about 1.23 million contained tokens worth less than $1,000. </p> 
<p>In comparison, 98,200 addresses held tokens between $1,000 and $100,000. Per the data, less than 2,000 addresses held tokens surpassing $100,000.</p> 
<p> You might also like: <a href="https://crypto.news/analyst-shiba-inu-to-make-a-wild-price-swing/"> Analyst: Shiba Inu to make wild price swing </a> </p> 
<h2 class="wp-block-heading" id="strong-shib-burn-rate-surges-over-2-000-strong"><strong>SHIB burn rate surges over 2,000%</strong></h2> 
<p>In another development, the meme coin’s burn rate shot up by an impressive 2,068.92% in the last day, leading to the removal of more than 53.5 million tokens from circulation.&nbsp;</p> 
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   <p lang="en" dir="ltr">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SHIB</a> Price: $0.00000949 (1hr -0.50% ▼ | 24hr -1.62% ▼ )<br>Market Cap: $5,582,451,890 (-1.60% ▼)<br>Total Supply: 589,301,725,195,563<br><br>TOKENS BURNT<br>Past 24Hrs: 53,563,480 (2068.92% ▲)<br>Past 7 Days: 156,205,962 (-68.39% ▼)</p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1744011051442593921?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 7, 2024</a>
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<p>This spike in burning activities is part of a broader initiative by the <a href="https://crypto.news/?s=Shiba+inu" target="_blank" rel="noreferrer noopener">Shiba Inu</a> team to introduce automated SHIB burns, initially publicized in a blog post in early December 2023.&nbsp;</p> 
<p>In a now-deleted post on X that was captured by a Shiba Inu-themed account @ShibBPP, Shibarium team member RagnarShib.eth hinted that the meme coin project was ready to incinerate as many as 9.25 trillion Shiba Inu tokens this month.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/SHIBARIUM?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#SHIBARIUM</a> team member Ragnar tweets that 9.25 trillion <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SHIB</a> can be burned this month 🔥🔥 <a href="https://t.co/guwhXQwM9Y" target="_blank">pic.twitter.com/guwhXQwM9Y</a></p>— $SHIB BPP (@ShibBPP) <a href="https://twitter.com/ShibBPP/status/1743488141716074860?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 6, 2024</a>
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<p>This substantial burn is anticipated to come from the $1 million worth of <a href="https://crypto.news/price/bone-shibaswap/" target="_blank" rel="noreferrer noopener">BONE</a> reported by the team in late 2023, equating to 101,522,842,639 SHIB tokens. </p> 
<p>Over 36 billion of these tokens have already been moved to non-recoverable blockchain addresses in four transactions, each carrying more than 8.5 billion SHIB.</p> 
<p>In light of the recent surge in the burn rate and transition towards automated burns, Shiba Inu’s efforts to enhance the utility of the token and address inflation concerns are evident.</p> 
<h2 class="wp-block-heading" id="strong-shib-price-fails-to-get-momentum-strong"><strong>SHIB price fails to get momentum</strong></h2> 
<p>However, despite the escalating number of addresses and the significant burn rate, SHIB’s price has continued to struggle to gain traction.</p> 
<p>The token is currently valued at $0.000009499, showing a decrease of 1.81% over the past 24 hours and a 9.7% decline over the week. SHIB prices did not fare any better in the last month or fortnight, falling 5.3% and 12.7%, respectively.</p> 
<p>Data from <a href="https://app.santiment.net/charts?settings=%7B%22slug%22%3A%22shiba-inu%22%2C%22ticker%22%3A%22SHIB%22%2C%22from%22%3A%222023-04-05T18%3A52%3A50.317Z%22%2C%22to%22%3A%222023-07-05T18%3A52%3A50.317Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22price_usd%22%2C%22network_growth%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2326C953%22%2C%22%2368DBF4%22%5D%2C%22ws%22%3A%7B%221%22%3A%7B%22node%22%3A%22area%22%7D%7D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22network_profit_loss%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23FF5B5B%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22price_usd%22%2C%22percent_of_total_supply_on_exchanges%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2326C953%22%2C%22%23FF5B5B%22%5D%2C%22ws%22%3A%7B%221%22%3A%7B%22node%22%3A%22area%22%7D%7D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22active_addresses_24h%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2368DBF4%22%2C%22%2326C953%22%5D%7D%5D" target="_blank" rel="noreferrer noopener">Santiment</a> has also revealed a steady decrease in SHIB’s exchange supply over the past 30 days, indicating an increasing propensity among investors to collect and retain SHIB.</p> 
<p> Read more: <a href="https://crypto.news/icp-surges-18-flips-shiba-inu/"> ICP surges 18%, flips Shiba Inu </a> </p>

SHIB price struggles despite escalating number of addresses

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