Shiba

Burn

2024

April

Shiba Inu

<ul> 
 <li>Shiba Inu’s monthly burn rate dropped 58.57% in July, indicating a decline in interest.</li> 
 <li>Despite a significant 24-hour burn increase, SHIB’s weekly burn rate fell by 89.99%.</li> 
</ul> 
Shibburn’s data shows that 379,473,801 SHIB tokens were burned in July, with 178 transactions. Although this figure may appear impressive, the monthly burn rate for <a style="color: #008000;" href="https://www.crypto-news-flash.com/shiba-inu-and-pepe-spark-12-billion-meme-coin-revival/">Shiba Inu</a> tokens has fallen by 58.57% compared to the prior month, June. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-medium" src="https://pbs.twimg.com/media/GT3gJw0WoAA3YIx?format=png&amp;name=900x900" width="700" height="500">
 <figcaption class="wp-caption-text">
 Source: Shibburn <a href="https://x.com/shibburn/status/1818859744901177647">on</a> X
 </figcaption>
</figure> 
<h2 id="strong-a-mixed-start-to-august-for-shiba-inu-burn-rates-strong">A Mixed Start to August for Shiba Inu Burn Rates&nbsp;</h2> 
Interestingly, as August begins, a total of 8,560,795 SHIB tokens have already been burned, signifying a 396.78% rise over the last 24 hours. However, during the course of seven days, the token’s burn rate dropped by 89.99%. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Price: $0.00001577 (1hr -0.43% ▼ | 24hr -3.84% ▼ ) Market Cap: $9,290,270,252 (-3.79% ▼) Total Supply: 589,272,212,798,225 
 TOKENS BURNT Past 24Hrs: 8,560,795 (396.78% ▲) Past 7 Days: 18,754,685 (-89.99% ▼) 
 — Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1818904546254413957?ref_src=twsrc%5Etfw">August 1, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
But Shibburn did not record any burn activity in the last 24 hours at the end of July, as we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/shiba-inu-sees-no-token-burn-in-24-hours-weekly-rate-up-71/">noted</a>, despite the token’s price attempting to recover more than 1%. Overall, these percentages are significantly lower than previous estimates, demonstrating a drop in interest in this famous meme token. 
Meanwhile, SHIB is currently trading at about $0,00001585, down 3.30% over the last 24 hours. Despite the drop in burn rate, daily trade volume has increased by more than 34%, hitting $230.67 million. 
<div class="cryptoboxes" id="mcw-435420" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="shiba-inu" data-symbol="SHIB" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>
Despite the fact that the burn rate data is not particularly outstanding, Shiba Inu remains committed to the development of its ecosystem. As we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/shiba-inu-unveils-ambitious-plans-new-layer-3-blockchain-and-tokens-on-the-horizon/">reported</a>, Shiba Inu intends to develop a new layer-3 blockchain with cutting-edge encryption technologies. 
This new layer will feature the future token TREAT, which is expected to play an important role inside it. Notably, this development comes after Shiba Inu secured a $12 million investment in April for its new layer-3 network.

Shiba Inu Burn Rate Plummets in July: What It Means for SHIB

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