Shiba

Burn

Read

Shiba Inu

Coin

<ul>
 <li>Shiba Inu’s burn rate increased by 4100%, removing 82.13 million coins.</li>
 <li>SHIB’s price rose by 3.30% in 24 hours, 8.67% over the week.</li>
 <li>Heimdall hard fork aims to improve Shibarium’s efficiency.</li>
</ul>
<p>The Shiba Inu cryptocurrency has experienced a dramatic increase in its coin burn rate, registering a 4100% spike. Recent <a href="https://www.shibburn.com/#google_vignette" target="_blank" rel="noopener noreferrer nofollow">data</a> from Shibburn indicates that over the past 24 hours, 82.13 million SHIB coins have been removed from circulation, marking a shift in market dynamics for the meme coin. This rise in the burn rate is intended to decrease the token’s overall supply, potentially enhancing its market value over time due to reduced availability.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> Price: $0.00002553 (1hr 0.27% ▲ | 24hr 3.37% ▲ )<br>Market Cap: $15,047,827,134 (3.34% ▲)<br>Total Supply: 589,273,766,844,481<br><br>TOKENS BURNT<br>Past 24Hrs: 82,149,878 (4111.57% ▲)<br>Past 7 Days: 122,004,248 (19.21% ▲)</p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1787422099608416725?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><strong>Market Response and Price Movement</strong></p>
<p>With the burn rate surge, Shiba Inu’s market price has shown positive movements. The token <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">observed</a> a 3.30% rise in the last 24 hours, reaching $0.00002551. Over the week, SHIB has seen an increase of 8.67%, which correlates closely with the coin’s recent technological upgrades and market activities.&nbsp;</p>
<p>These developments come despite a broader trend of price corrections observed over the past month, suggesting resilience in Shiba Inu’s market appeal.</p>
<p>The Shiba Inu community remains actively engaged in strategic developments to enhance the token’s functionality and appeal. The recent Heimdall hard fork for Shibarium promises quicker block processing and more stable transaction fees, which could further stabilize and boost the coin’s utility and investor interest.&nbsp;</p>
<p>While the SHIB market shows signs of short-term volatility, the community’s ongoing efforts and the impactful token burn could pave the way for more sustained growth in the future. As the market continues to evolve, the increased open interest and declining liquidations for SHIB suggest growing optimism among investors about its prospects.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/increased-shiba-inu-shib-burn-rate-leads-to-boosted-asset-price/" rel="noopener noreferrer nofollow">Increased Shiba Inu (SHIB) Burn Rate Leads to Boosted Asset Price</a></li>
 <li><a href="https://cryptonewsland.com/what-does-over-60-burn-rate-surge-indicate-for-shibs-future/" rel="noopener noreferrer nofollow">What Does Over 60% Burn Rate Surge Indicate for SHIB’s Future?</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inus-burn-rate-skyrockets-will-the-price-follow-suit/" rel="noopener noreferrer nofollow">Shiba Inu’s Burn Rate Skyrockets: Will the Price Follow Suit?</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inu-burn-rate-skyrockets-surge-signals-positive-shift/" rel="noopener noreferrer nofollow">Shiba Inu Burn Rate Skyrockets: Surge Signals Positive Shift</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inus-burn-rate-skyrockets-44000-price-reacts/" rel="noopener noreferrer nofollow">Shiba Inu’s Burn Rate Skyrockets 44,000%: Price Reacts</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/shiba-inu-coin-burn-rate-soars-by-4100-boosts-market-value/" rel="noopener noreferrer nofollow">Shiba Inu Coin Burn Rate Soars by 4100%, Boosts Market Value</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Shiba Inu Coin Burn Rate Soars by 4100%, Boosts Market Value

Crypto News Land

Other articles published on May 6, 2024

Dormant Bitcoin Whale ($BTC) Resurfaces After 10 Years: Altcoin Whales Stun with Massive Profits!

Famous Economist Says These Two Events Will Start the Rise in Bitcoin, Announces the Surprise Alt...

Decade-Dormant Bitcoin Wallet Activates, Transfers 687 BTC

Next Cryptocurrency To Explode Monday, May 6 — Hedera, Ondo, Ethena, Render

Bitcoin Community Suffers in Brazil Floods: How to Help Out

Anticipating Market Surge: Will This Week’s Economic Data Boost Crypto Coins?

Join our free newsletter for daily crypto updates!