Shiba

Token

Burn

when

Shiba Inu

<ul>
 <li>40,539,008 SHIB tokens were burned in 24 hours, marking an 8007.8% increase.</li>
 <li>The 7-day burn rate saw a decline of 63.85%, indicating a shift in community activity.</li>
</ul>
Shiba Inu (SHIB) continues to pique the interest of cryptocurrency enthusiasts due to its ongoing market dynamics. As of the most recent update, SHIB is trading at $0.00001373, up 2.03% over the last 24 hours.
This bullish trend has resulted in a market cap of $8.09 billion, representing a 2.04% increase over the same period. These data show that investor sentiment and market conditions are both driving a steady interest in SHIB.
<div class="cryptoboxes" id="mcw-435420" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="shiba-inu" data-symbol="SHIB" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>
In addition to price performance, the SHIB ecosystem is experiencing a surge in token burns, a crucial indicator that the community closely monitors.
<h2 id="strong-shib-token-burn-surges-in-24-hours-weekly-burn-rate-shows-significant-decline-strong">SHIB Token Burn Surges in 24 Hours; Weekly Burn Rate Shows Significant Decline&nbsp;</h2>
According to <a href="https://x.com/shibburn/status/1822800213213389280" rel="noopener noreferrer nofollow">Shibburn</a>, in the last 24 hours, 40,539,008 SHIB tokens have been burned, marking an amazing 8007.8% rise. This increase in the <a style="color: #008000;" href="https://www.crypto-news-flash.com/shiba-inu-burn-rate-surges-137000-renewed-community-efforts/" rel="noopener noreferrer nofollow">burn rate</a> suggests a greater effort among the community to reduce the overall supply of SHIB, potentially raising the token’s value over time.
However, when the data is examined over a longer period of time, the scenario becomes more complex. Over the past seven days, 149,131,658 SHIB tokens have been burned, a 63.85% drop from the prior week.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> Price: $0.00001347 (1hr 0.70% ▲ | 24hr -4.94% ▼ ) Market Cap: $7,936,408,267 (-5.00% ▼) Total Supply: 589,272,048,888,964
 TOKENS BURNT Past 24Hrs: 40,539,008 (8007.8% ▲) Past 7 Days: 149,131,658 (-63.85% ▼)
 — Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1822800213213389280?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 12, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
CNF earlier <a style="color: #008000;" href="https://www.crypto-news-flash.com/shib-burn-rate-explodes-by-38199412-analyst-suggests-shiba-inu-price-could-triple-to-0-001/" rel="noopener noreferrer nofollow">reported</a> another remarkable increase in the SHIB burn rate. Yesterday, the token burn rate increased by a staggering 38,199,412%, reigniting rumors about its ability to reach $0.001.
Additionally, cryptocurrency analyst Javon Marks has identified a “Hidden Bullish Divergence” in SHIB’s Relative Strength Index (RSI), indicating a potential recovery.
Meanwhile, we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/shibarium-unveils-auto-burn-for-shiba-inu-shib-shib-network-performance-improved-with-new-update/" rel="noopener noreferrer nofollow">revealed</a> that the automatic SHIB burn mechanism, created using Bor software v1.1.2-bone, converts and burns 70% of Shibarium’s transaction fees.
Since the introduction of the auto-burn feature, the SHIB burn rate has increased substantially, with over 410.72 trillion SHIB tokens burned so far and more than 100 million burned this year.

Massive 24-Hour SHIB Burn Surges by Over 8000% in Recent Update

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