Shiba

2024

Shiba Inu

Daily

Recent data from Shibburn, a tracking platform for Shiba Inu (SHIB), reveals a remarkable 685% increase in the burn rate of SHIB meme coins over the past week. Despite a downturn in daily metrics, community-driven burn activities have surged significantly, pushing 399,586,110 SHIB to non-recoverable addresses.
Shibburn’s latest update indicates a substantial rise in SHIB burns, with the weekly total skyrocketing by over 685% highlighting strong involvement from SHIB holders, who have helped decrease the amount of the meme cryptocurrency in circulation.
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 HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SHIB</a> Price: $0.00002068 (1hr -0.17% ▼ | 24hr -4.87% ▼ ) Market Cap: $12,181,521,782 (-4.74% ▼) Total Supply: 589,273,063,638,942 TOKENS BURNT Past 24Hrs: 39,878,482 (-62.76% ▼) Past 7 Days: 399,586,110 (685.12% ▲)— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1801917612319772976?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 15, 2024</a>
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The data, shared via Shibburn’s official X handle, highlights that over the last seven days, the SHIB community has burned a total of 399,586,110 coins, which is seen as a bullish signal by investors and enthusiasts, potentially impacting SHIB’s future value positively
In contrast to the weekly surge, the daily burn rate has experienced a notable 63% drop, with 39,878,482 SHIB coins sent to dead-end blockchain addresses. Despite this decline in daily burns, the overall sentiment remains optimistic within the SHIB community, particularly as the meme coin prepares for a potential price rebound. However, at the time of writing SHIB was trading at <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">$0.00002066</a> an increase of 2.10 % in 24 hours.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXchxamNtim71_QVPplREtfNq-W55N8AmmlI2JYxjj73p8X6uexYnXW9bUFIwMuDJR_6F_T6oCGL5ejrXV3zJjB3APFsSkTrlzdXqAF-q04-k0o_4yBU1CgRHvXhhcpI7PpibJZJjF4P6u0hGxo--a8etYqF?key=urX59AZhaLd_f6h9kKS8Pg" alt="AD 4nXchxamNtim71 QVPplREtfNq W55N8AmmlI2JYxjj73p8X6uexYnXW9bUFIwMuDJR 6F T6oCGL5ejrXV3zJjB3APFsSkTrlzdXqAF q04 k0o 4yBU1CgRHvXhhcpI7PpibJZJjF4P6u0hGxo a8etYqF?key=urX59AZhaLd f6h9kKS8Pg">
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 Shiba Inu 24-hour price chart (Source: CoinMarketCap)
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Crypto analyst Ali Martinez supports this sentiment in a <a href="https://x.com/ali_charts/status/1801917817350172838" target="_blank" rel="noopener noreferrer nofollow">recent</a> analysis, citing a buy signal on the TD Sequential indicator. Martinez suggests that SHIB, currently trading at $0.00002076, could potentially rally to around $0.00002800, marking an estimated 35% increase from its current level.
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 Also read: <a href="https://www.cryptotimes.io/2024/06/12/shiba-inu-declines-25-in-two-weeks-amid-slump-in-crypto-market/" rel="noopener noreferrer nofollow">Shiba Inu Declines 25% in Two Weeks Amid Slump in Crypto Market</a>
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Shiba Inu Burns Surge 685% Weekly Despite Daily Decline

The Crypto Times

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