Shiba

2024

Burn

Shiba Inu

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<a href="https://u.today/shiba-inu-shib-burn-rate-jumps-1530-in-epic-market-turnaround">Shiba Inu (SHIB)</a> has seen a remarkable increase in its token burn rate, despite a decline in its price. According to <a href="https://twitter.com/shibburn/status/1752919978603393179">Shibburn</a>, Shiba Inu's burn rate spiked by 219.78% in the last 24 hours, with the price recording a drop within the said time frame.
In the past 24 hours, a total of 15,573,546 SHIB tokens were burned in nine transactions. Meanwhile, the SHIB price has declined 1.12% in the last 24 hours to trade at $0.00000888.
The past month of January saw billions of SHIB tokens burned. According to Shibburn, 9,937,949,070 SHIB tokens were burned in January through 269 transactions. This amounted to $88,567, with the monthly burn rate up 61.57%.
<blockquote>
 In the past 24 hours, there have been a total of 15,573,546 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> tokens burned and 9 transactions. Visit <a href="https://t.co/t0eRMnyZel">https://t.co/t0eRMnyZel</a> to view the overall total of <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw">#SHIB</a> tokens burned, circulating supply, and more. <a href="https://t.co/zN8gNeINGi">pic.twitter.com/zN8gNeINGi</a>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1752919978603393179?ref_src=twsrc%5Etfw">February 1, 2024</a>
</blockquote> 
The increase in Shiba Inu's burns remains a positive sign, but it might not be enough to offset the price drop that SHIB has experienced in the past month; SHIB had finished January down 13.54%.
Shiba Inu's price has been on a downward trend since Dec. 17, 2023, when it reached a high of $0.00001194. The current declines were induced by general market selling, which caused SHIB to lose the $0.00001 support and consequently add a zero to its price.
<h2 id="positivity-looms">Positivity looms</h2>
According to crypto analyst Ali, the TD Sequential indicator, which has proven remarkably precise in predicting <a href="https://u.today/shiba-inu-could-surge-150-how-635-trillion-shib-level-comes-to-play">Shiba Inu price</a> movements, has flashed a buy signal.
This could imply that despite the price drop, SHIB might be gearing up for an upswing. &nbsp;Ali urges traders to keep an eye out, as SHIB could climb to $0.010 or potentially even reach $0.011.
Lucie, a Shib team member, also expresses positivity about the Shiba Inu ecosystem, revealing the details of a meeting with Shiba Inu lead, Shytoshi Kusama: "After meeting with Shytoshi Kusama, I can't reveal much, but I can say one thing: The goal is to have everything finished by the end of this year. The whole vision should be completed by 2024/2025. It's not a promise, but that's the goal."

Shiba Inu Burn Rate Defies Price Drop With 219% Spike: Details

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