Shiba

Shiba Inu

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<a href="https://u.today/shiba-inu-shib-faced-with-critical-moment-amid-5-price-rebound" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> has experienced an impressive surge in its daily SHIB burn rate, skyrocketing by 243%. Despite this significant increase, the price of SHIB has remained relatively stagnant, barely moving and remaining in a tight range over the past two days.
According to <a href="https://x.com/shibburn/status/1807293034905636909" rel="noopener noreferrer nofollow">Shibburn X handle</a>, 20,198,590 SHIB were burned in the last 24 hours, representing a 243.67% increase in burn rate.
<blockquote>
 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: $0.0000167 (1hr 0.11% ▲ | 24hr -1.94% ▼ )Market Cap: $9,837,479,550 (-1.76% ▼)Total Supply: 589,272,900,137,653TOKENS BURNTPast 24Hrs: 20,198,590 (243.67% ▲)Past 7 Days: 76,341,727 (-12.16% ▼)— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1807293034905636909?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 30, 2024</a>
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Despite the substantial burn rate increase, SHIB's price has shown minimal movement. Over the last two days, the price has held steady, fluctuating in a narrow range between $0.0000166 and $0.0000172.
Several factors, including market sentiment, could contribute to SHIB's price lull despite the increased burn rate. Individual token prices may be influenced by the overall sentiment in the cryptocurrency market, which might be positive, negative, or neutral. The lack of price movement might suggest that other market forces are at play, overshadowing the burn rate's impact.
The crypto market led by <a href="https://u.today/bitcoin-boom-over-1-million-addresses-now-own-1-btc" rel="noopener noreferrer nofollow">Bitcoin</a> experienced boring price action over the weekend, with the proportion of Bitcoin traded falling to an all-time low of 16% this year. The lackluster action has spread to Shiba Inu, as evidenced by its price.
<h2 id="shiba-inu-team-on-shib-bone-leash-sheb-we-aren-t-stopping">Shiba Inu team on SHIB, BONE, LEASH, SHEB: "We Aren't Stopping"</h2>
Shiba Inu team member <a href="https://x.com/LucieSHIB/status/1807301888087376336" rel="noopener noreferrer nofollow">Lucie</a> has delivered an invigorating massage to the SHIB community: "We aren’t stopping on SHIB, BONE, LEASH, SHEB."
<blockquote>
 Whether it’s <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BONE</a>, <a href="https://twitter.com/search?q=%24LEASH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LEASH</a>, <a href="https://twitter.com/search?q=%24SHEB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHEB</a>, or <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>, we aren’t stopping. Right now, it may not look bullish, but the picture is bigger than it seems. You’re only seeing a pixel of it right now. When you step back and focus on the whole picture, you’ll see a different sentiment.Giving… <a href="https://t.co/p2WoXz4xDQ" rel="noopener noreferrer nofollow">pic.twitter.com/p2WoXz4xDQ</a>— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) <a href="https://twitter.com/LucieSHIB/status/1807301888087376336?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 30, 2024</a>
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As the market faces a period of uncertainty as reflected in dwindling prices, Lucie reiterates the Shiba Inu team's commitment to the project's growth and development. Their focus spans across the ecosystem's key tokens — <a href="https://u.today/shiba-inu-burn-rate-soars-15608-as-shib-team-torches-shib-bone-leash" rel="noopener noreferrer nofollow">SHIB, BONE, LEASH</a> and the newly introduced SHEB.
As the Shiba Inu community continues to rally behind SHIB, BONE, LEASH and SHEB, the market watches with bated breath to see how these tokens evolve in the coming days.
At the time of writing, SHIB was down 0.27% in the last 24 hours to $0.00001699.

Shiba Inu Skyrockets 243% Yet SHIB Price Not Moving

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