Shiba

2024

Shiba Inu

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 <p class="is-style-lead">The Shiba Inu token (SHIB) has achieved a noteworthy feat after exceeding 3.7 million addresses.</p> 
 <p>According to information provided by Glassnode, 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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   Source: Glassnode
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 <p>Data from CoinMarketCap painted a more concise picture, revealing that out of the 3.74 million <a rel="dofollow" title="addresses" href="https://thebittimes.com/tag/addresses.html">addresses</a>, 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 $100,000.</p> 
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 <h2 class="wp-block-heading" id="strong-shib-burn-rate-surges-over-2-000-strong"><strong>SHIB burn rate surges over 2,000%</strong></h2> 
 <p>In another development, the meme coin’s burn rate shot up by an impressive 2,068.92% in the last day, leading to the removal of more than 53.5 million tokens from circulation.&nbsp;</p> 
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    <p lang="en" dir="ltr">HOURLY SHIB UPDATE$SHIB 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) January 7, 2024
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 <p>This spike in burning activities is part of a broader initiative by the Shiba Inu 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">#SHIBARIUM team member Ragnar tweets that 9.25 trillion $SHIB can be burned this month pic.twitter.com/guwhXQwM9Y</p>— $SHIB BPP (@ShibBPP) January 6, 2024
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 <p>This substantial burn is anticipated to come from the $1 million worth of BONE 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 <a rel="dofollow" title="escalating" href="https://thebittimes.com/tag/escalating.html">escalating</a> <a rel="dofollow" title="number" href="https://thebittimes.com/tag/number.html">number</a> of <a rel="dofollow" title="addresses" href="https://thebittimes.com/tag/addresses.html">addresses</a> and the significant burn rate, SHIB’s <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> has continued to <a rel="dofollow" title="struggle" href="https://thebittimes.com/tag/struggle.html">struggle</a> 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 Santiment 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> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/shib-price-struggles-despite-escalating-number-of-addresses-tbt75840.html">https://thebittimes.com/shib-price-struggles-despite-escalating-number-of-addresses-tbt75840.html</a></p>

SHIB price struggles despite escalating number of addresses

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