Shiba

Ethereum

Burn

United

Shiba Inu

<img width="1600" height="914" src="https://coingape.com/wp-content/uploads/2024/01/shiba-inu-burn-1.jpg" class="attachment-full size-full wp-post-image" alt="shiba-inu-burn" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/01/shiba-inu-burn-1.jpg 1600w, https://coingape.com/wp-content/uploads/2024/01/shiba-inu-burn-1-300x171.jpg 300w, https://coingape.com/wp-content/uploads/2024/01/shiba-inu-burn-1-1224x699.jpg 1224w, https://coingape.com/wp-content/uploads/2024/01/shiba-inu-burn-1-768x439.jpg 768w, https://coingape.com/wp-content/uploads/2024/01/shiba-inu-burn-1-1536x877.jpg 1536w, https://coingape.com/wp-content/uploads/2024/01/shiba-inu-burn-1-150x86.jpg 150w" sizes="(max-width: 1600px) 100vw, 1600px">
Shiba Inu’s SHIB burn rate has printed a 1539.20% surge with about 18,499,053 SHIB tokens burnt within the last 24 hours <a rel="nofollow" href="https://www.shibburn.com/">per data Shibburn</a>. 
<h2 id="strong-burn-rate-and-attention-grabbing-strong">Burn Rate and Attention-Grabbing</h2> 
In what seemed like a frenzied movement, Shiba Inu, one of the most prominent meme coins functioning atop the Ethereum blockchain experienced an outstanding jump in its burn rate. This exceeded expectations and left behind a trail of more than 410.7 trillion SHIB tokens now taken out of circulation, according to data from Shibburn.&nbsp; 
<figure id="attachment_177094" aria-describedby="caption-attachment-177094" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-177094" src="https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN.jpg" alt="" width="892" height="670" srcset="https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN.jpg 892w, https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN-300x225.jpg 300w, https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN-768x577.jpg 768w, https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN-678x509.jpg 678w, https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN-326x245.jpg 326w, https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN-80x60.jpg 80w, https://coingape.com/wp-content/uploads/2024/01/SHIB-BURN-150x113.jpg 150w" sizes="(max-width: 892px) 100vw, 892px">
 <figcaption id="caption-attachment-177094" class="wp-caption-text">
 Shiba Inu Burn Chart. Source: <a rel="nofollow" href="https://www.shibburn.com/" target="_blank">Shibburn.com</a>
 </figcaption>
</figure> 
Consequently, this surge pushed SHIB to the spotlight, gaining the attention of crypto enthusiasts and investors who were impressed by the movement. Ultimately, this underscores Shiba Inu’s growing prominence amidst other protocols and within the crypto ecosystem. The growing popularity of the SHIB token is partly attributed to the increasing interest in the coin. 
This comes against the backdrop of spot Bitcoin ETFs that were <a href="https://coingape.com/breaking-sec-gives-nod-to-spot-bitcoin-etf-opens-door-for-trading/">approved</a> by the United States Securities and Exchange Commission (SEC) but at the same time, SHIB has been able to stand out within its niche complemented by the embrace of Shibarium.&nbsp; 
Shiba Inu’s community activity and engagement have significantly grown over the past months as judged by the Shibarium metrics 
<h2 id="strong-shiba-inu-burn-rate-and-total-supply-strong">Shiba Inu Burn Rate and Total Supply</h2> 
Markedly, this is only one of the huge burns the SHIB landscape has seen in the last couple of weeks. Only a few days ago, the burn rate was at a <a href="https://coingape.com/shiba-inu-fuels-optimism-as-burn-rate-shibarium-scale-greater-heights/">staggering&nbsp;4250.91%.</a> At the time, the community incinerated a whopping 410.708 trillion SHIB to date from the token’s initial circulating supply. This was after a 4200% burn which <a href="https://coingape.com/shiba-inu-burn-rate-soars-4200-with-over-410-7-tln-shib-removed/">torched another millions of SHIB tokens</a>.&nbsp; 
Due to the huge burn rate, the protocol has been able to effectively eliminate a massive portion of the SHIB total supply.&nbsp; 
Before the incineration, the maximum total supply of the Shiba Inu token was 999,982,386,137,000. Upon completion of the burn of 410,708,049,880,540, the Shiba Inu ecosystem is now left with 581,291,545,266,594. Meanwhile, only 581,291,545,266,594 are in circulation with the remaining 8,000,404,852,864 Staked on DApps. 
The price of Shiba Inu has grown within the last 24 hours and at the time of this writing, the coin has gained 0.35% and is trading at $0.000009094. The token is notably stabilizing after weeks of drawdown. 
The post <a href="https://coingape.com/shiba-inu-burn-rate-skyrockets-1557-as-shib-price-stabilizes/">Shiba Inu Burn Rate Skyrockets 1539% as SHIB Price Stabilizes</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Shiba Inu Burn Rate Skyrockets 1539% as SHIB Price Stabilizes

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