Shiba

Burn

Shiba Inu

Spot

<ul> 
 <li>Shibburn reported a 68,231.91% surge in SHIB burn rate, with one transaction burning over 96 million tokens.</li> 
 <li>Kraken has expanded support for SHIB Futures trading, potentially driving further adoption and increasing market activity.</li> 
</ul> 
Shiba Inu (SHIB) continues to garner notice for its exceptional successes, despite the inherent volatility of its token performance. Shibburn, a well-known SHIB burn tracker, recently <a href="https://x.com/shibburn/status/1829277898055798790">reported</a> a startling increase in SHIB burn rate of 68,231.91%. 
<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: $0.00001429 (1hr 0.93% ▲ | 24hr 1.93% ▲ ) Market Cap: $8,444,432,466 (1.97% ▲) Total Supply: 589,271,921,380,292 
 TOKENS BURNT Past hour: 96,086,320 (1 transaction) Past 24Hrs: 96,634,994 (68231.91% ▲) Past 7 Days: 172,993,038 (283.33% ▲) 
 — Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1829277898055798790?ref_src=twsrc%5Etfw">August 29, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="strong-massive-single-transaction-dominates-shib-burn-rate-strong">Massive Single Transaction Dominates SHIB Burn Rate&nbsp;</h2> 
This increase resulted in the burning of 96,634,994 SHIB tokens within the last 24 hours. Notably, virtually all of this burn was linked to a single transaction that burned 96,086,320 tokens. 
This one transaction accounted for nearly the entire burn rate during this time period, highlighting its importance in the ongoing attempts to limit the circulating supply of SHIB. 
As of this writing, the price of <a style="color: #008000;" href="https://www.crypto-news-flash.com/shiba-inu-prepares-for-498-jump-with-bullish-pattern-in-play/">SHIB</a> is roughly $0,00001399, showing a 0.28% rise over the last 24 hours. This price shift took place despite a relatively low daily trading volume of $185.13 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>On the other hand, Kraken, a popular cryptocurrency exchange, has increased its support for SHIB, PEPE, and WIF by enabling futures trading for these coins. As we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/kraken-fuels-speculation-with-shib-pepe-wif-collateral-listing-meme-coin-rally-incoming/">reported</a>, this new product expansion has the potential to promote greater adoption and increase SHIB’s market value. 
To participate in this offering, consumers must move their memecoins from Kraken Spot wallets to Futures wallets. This decision by Kraken may open the way for higher trading activity and strengthen SHIB’s standing in the cryptocurrency market. 
Moreover, previous reports from CNF <a style="color: #008000;" href="https://www.crypto-news-flash.com/shibarium-approaches-420m-transactions-shiba-inus-network-achieves-major-milestones-and-upgrades/">highlighted</a> the progress of Shibarium, Shiba Inu’s Layer 2 solution. Shibarium recently reached the milestone of 6.5 million total blocks and approximately 420 million transactions. However, it has been observed that the quantity of new daily transactions is decreasing. 
In response, the Shiba Inu team has announced the launch of a “Burn Portal” and the deployment of the most recent hard fork, which are expected to address some of the network’s issues and improve overall functionality.

Shiba Inu (SHIB) Burn Rate Surges Over 68,000% in One Day

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