Shiba

Token

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-token-burning-rate-soars/" data-wpel-link="internal">Shiba Inu Token Burning Rate Soars</a><br></p>
<p style="text-align: justify">In recent days, <strong><a href="https://en.coin-turk.com/bitcoin-falls-below-28000-as-crypto-market-continues-to-decline/" data-wpel-link="internal">Shiba</a> Inu</strong> (<a href="https://en.coin-turk.com/shiba-inu-expands-its-ecosystem-with-shibarium-layer-2-and-new-projects/" data-wpel-link="internal">SHIB</a>) tokens have been experiencing significant changes in line with market value fluctuations. According to data provided by Shibburn, there has been a notable increase in the amount of tokens sent for burning. The fact that this increase is happening alongside a price drop makes it even more interesting.</p> 
<h2 style="text-align: justify" id="massive-increase-in-shib-token-burning-rate">Massive Increase in SHIB Token Burning Rate</h2> 
<p style="text-align: justify">Throughout the past week, there was a noticeable slowdown in the token burning rate, which occurred simultaneously with a decline in the coin’s market price. The volume of <strong>cryptocurrency</strong> SHIB tokens set aside for destruction significantly decreased, leading to an overall reduction in the burning rate.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-339922 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/shiba-coin-turk-com-1-1.png" alt="" width="705" height="592"></p> 
<p style="text-align: justify">However, the situation changed dramatically in the following days of the week. The burning rate of Shiba Inu tokens, which are among the top twenty in the cryptocurrency world, showed a sharp increase largely due to the actions of the project’s lead developer.</p> 
<p style="text-align: justify">According to data from Shibburn, there was a significant increase in the number of tokens sent to the burning address. In just 24 hours, 87.76 million SHIB tokens were burned, marking an impressive increase of 48,554.74% in the burning rate compared to previous figures. This notable increase involved transactions from just two wallets.</p> 
<h2 style="text-align: justify" id="two-wallets-responsible-for-burning-transactions">Two Wallets Responsible for Burning Transactions</h2> 
<p style="text-align: justify">The wallet labeled “0xb8001c3” was responsible for burning 61.9 million tokens on Wednesday. Following that, the “0xa9d1e0” wallet added another 25.85 million <strong>SHIB</strong> tokens to the burning process.</p> 
<p style="text-align: justify">This sharp increase is in stark contrast to the activity of the previous day. The previous day saw only 180,375 tokens being burned. There was also a serious decline of 99.59% in the burning rate.</p> 
<p style="text-align: justify">It appears that this latest increase is due to organic factors rather than intentional efforts by the Shiba Inu cryptocurrency team or changes in community sentiment.</p> 
<h2 style="text-align: justify" id="shib-price-amidst-market-bloodbath">SHIB Price Amidst Market Bloodbath</h2> 
<p style="text-align: justify">The cryptocurrency <strong>Shiba Inu</strong>‘s price was affected by the recent downturns just like other <a href="https://coin-turk.com/cardano-ceosu-piyasada-ilk-olmak-onemli-degil" data-wpel-link="internal">altcoins</a>. Accordingly, we see that the SHIB price is currently at $0.00002440.</p> 
<p style="text-align: justify"><strong>Shiba Inu</strong>‘s price had dropped to $0.00002140. The price seems to have recovered somewhat. However, it is evident that there is still a long way to go to reach the peak price of $0.00008854 for SHIB, the number two meme coin in the world.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inu-token-burning-rate-soars/" data-wpel-link="internal">Shiba Inu Token Burning Rate Soars</a></h5>

Shiba Inu Token Burning Rate Soars

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