Shiba

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Shiba Inu

<ul>
 <li>SHIB burn rate surges 2,682%, burning 18M tokens in 24 hours, but price remains stable at $0.00001807.</li>
 <li>Despite a 76.88% weekly burn decrease, SHIB’s price stays steady amid broader crypto market fluctuations.</li>
 <li>SHIB trades within a tight range, influenced by overall crypto market sentiment and performance of major assets like Bitcoin.</li>
</ul>
<p>Shiba Inu (SHIB), the dog-themed cryptocurrency, has recently witnessed a surge in its daily burn rate, with 18,617,208 SHIB tokens burned in the past 24 hours, representing a 2,682.44% increase. Despite this notable burn rate spike, SHIB’s price has shown only a slight change over the same period.</p>
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   <p lang="en" dir="ltr">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> Price: $0.00001807 (1hr -0.16% ▼ | 24hr -0.15% ▼ )<br>Market Cap: $10,642,554,615 (-0.18% ▼)<br>Total Supply: 589,272,971,211,453<br><br>TOKENS BURNT<br>Past hour: 5,267,928 (1 transaction) <br>Past 24Hrs: 18,617,208 (2682.44% ▲)<br>Past 7 Days: 92,181,636 (-76.88% ▼)</p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1804771417143087434?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 23, 2024</a>
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<h3 class="wp-block-heading" id="h-current-market-performance"><strong>Current Market Performance</strong></h3>
<p>At press time, SHIB is priced at <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">$0.00001797</a>, reflecting a decrease 0.39% decline over the past 24 hours. The market capitalization of SHIB stands at $10,642,554,615, down by 0.18%. The total supply of SHIB remains at 589,272,971,211,453 tokens.</p>
<p>The past week has seen a total of 92,181,636 SHIB tokens burned, marking a 76.88% decrease compared to previous weeks. Despite this weekly drop, the past 24 hours alone have seen a significant increase in the burn rate. This substantial increase in daily burns, however, has not been mirrored by a corresponding rise in SHIB’s price, which has only increased by a modest 0.49% to $0.00001813 over the same timeframe.</p>
<h3 class="wp-block-heading" id="h-market-sentiment-and-influences"><strong>Market Sentiment and Influences</strong></h3>
<p>Several factors contribute to the modest price movement of SHIB despite the increased burn rate. The overall sentiment in the cryptocurrency market has been slow, with Bitcoin experiencing a drop to its lowest level in over a month. The performance of major cryptocurrencies like <a href="https://cryptonewsland.com/bitcoin-and-ethereum-take-a-dip-amidst-broad-crypto-market-bleed/" rel="noopener noreferrer nofollow">Bitcoin and Ethereum</a> often impacts the broader market, influencing altcoins such as SHIB.</p>
<p>Since reaching a low of $0.00001696 on June 18, SHIB has traded within a narrow range between $0.0000173 and $0.0000188. On-chain data from <a href="https://app.intotheblock.com/coin/SHIB" rel="noopener noreferrer nofollow">IntoTheBlock</a> indicates that 417.19 trillion SHIB tokens are held by 25,310 addresses at an average price of $0.000018. This shows the importance of the $0.000018 price level, where SHIB is currently trading.</p>
<h3 class="wp-block-heading" id="h-market-speculation-and-future-outlook"><strong>Market Speculation and Future Outlook</strong></h3>
<p>The market is closely watching SHIB’s price for signs of <a href="https://cryptonewsland.com/bitcoin-and-ethereum-take-a-dip-amidst-broad-crypto-market-bleed/" rel="noopener noreferrer nofollow">potential breakout</a> or further consolidation. A decisive move above the daily moving averages could indicate a bullish trend. Should the broader cryptocurrency market turn bullish, SHIB may benefit from increased investor confidence and trading activity.</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/xrps-modest-rise-whats-next-for-ripples-digital-asset/" rel="noopener noreferrer nofollow">XRP’s Modest Rise: What’s Next for Ripple’s Digital Asset?</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/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/shiba-inus-surging-burn-rate-is-it-the-right-time-to-buy-shib/" rel="noopener noreferrer nofollow">Shiba Inu’s Surging Burn Rate: Is It the Right Time to Buy SHIB?</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>
</ul>
<p>The post <a href="https://cryptonewsland.com/shiba-inu-experiences-significant-burn-rate-increase-amid-modest-price-changes/" rel="noopener noreferrer nofollow">Shiba Inu Experiences Significant Burn Rate Increase Amid Modest Price Changes</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Shiba Inu Experiences Significant Burn Rate Increase Amid Modest Price Changes

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