{"id":102215,"date":"2024-11-30T05:16:48","date_gmt":"2024-11-30T09:16:48","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=102215"},"modified":"2024-11-30T05:17:22","modified_gmt":"2024-11-30T09:17:22","slug":"shib-burn-soars-7400-as-exec-burns-80m-coins","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/shib-burn-soars-7400-as-exec-burns-80m-coins\/","title":{"rendered":"SHIB Burn Soars 7400% As Exec Burns 80M Coins, Shiba Inu Eyes $0.0004"},"content":{"rendered":"\n

The SHIB burn rate<\/a> jumped\u00a07,400% in the past week, as\u00a0nearly 2 billion tokens were\u00a0destroyed. Shiba Inu price\u00a0to rise\u00a0$0.0004?<\/p>\n\n\n\n

\"SHIB<\/figure>\n\n\n\n

Shiba Inu (SHIB) is drawing renewed attention from market watchers as its weekly burn rate surged dramatically by 7,400%, fueled by the destruction of nearly 2 billion SHIB tokens. <\/p>\n\n\n\n

Enthusiasts are now eyeing the possibility of the meme coin reaching the $0.0004 mark amid a positive fourth-quarter market outlook.<\/p>\n\n\n\n

SHIB Burn Hits Record Levels<\/h2>\n\n\n\n

According to Shibburn, an official tracking platform on X (formerly Twitter), SHIB's weekly burn rate spiked by 7,418% on Saturday, November 30. <\/p>\n\n\n\n

Approximately 1.93 billion tokens were permanently removed from circulation, reducing the total market supply of the dog-themed cryptocurrency to 589.26 trillion tokens.<\/p>\n\n\n\n

\"SHIB<\/figure>\n\n\n\n

The burn mechanism transfers SHIB tokens to an inaccessible “null address,” rendering them irretrievable. This approach diminishes the token's circulating supply, aligning with the principle of supply and demand to potentially boost prices.<\/p>\n\n\n\n

Shiba Inu executive Kaaldhairya contributed significantly to this burn rate. In a recent post on X, Kaal shared that semi-automatic burns have been in place for months, collectively destroying over 300 million tokens so far. <\/p>\n\n\n\n

Kaal added, \u201cI just burned 80M+ SHIB a few minutes ago and enjoyed the cool animation at the end,\u201d<\/em> reinforcing confidence in the project\u2019s long-term potential and clearing up misconceptions regarding the auto-burn mechanism.<\/p>\n\n\n\n

Additionally, Kaal announced the completion of maintenance on Shibarium<\/a>, the ecosystem\u2019s blockchain network, noting that its bridge is now fully operational. <\/p>\n\n\n\n

He also revealed ongoing work on upgrades to the burn contracts, spurring further discussions about SHIB's future price trajectory.<\/p>\n\n\n\n

SHIB Price Outlook<\/h2>\n\n\n\n

As of the report, SHIB\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> was trading at $0.00002593, reflecting a marginal 0.06% dip. The token's intraday low and high were $0.00002551 and $0.00002633, respectively. <\/p>\n\n\n\n

Despite the slight dip, the coin has shown a notable 39% increase over the past month, bolstered by the burn surge and ecosystem developments.<\/p>\n\n\n\n

Analysis suggests SHIB is poised for potential gains, though achieving a $1 price point this year is unlikely. If the token maintains its monthly momentum, it could surpass the $0.00003 resistance level, potentially setting the stage for a $0.0004 target.<\/p>\n\n\n\n

Adding to the bullish sentiment, large-scale SHIB acquisitions by “whales” have been reported. Media highlighted a notable whale continuing to accumulate SHIB, reflecting broader optimism for the meme coin's price movements in the near future.<\/p>\n\n\n\n

Market participants remain watchful for further developments, particularly as the SHIB burn mechanism and community advancements signal a potentially stronger outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"

The SHIB burn rate jumped\u00a07,400% in the past week, as\u00a0nearly 2 billion tokens were\u00a0destroyed. Shiba Inu price\u00a0to rise\u00a0$0.0004? Shiba Inu (SHIB) is drawing renewed attention from market watchers as its weekly burn rate surged dramatically by 7,400%, fueled by the destruction of nearly 2 billion SHIB tokens. Enthusiasts are now eyeing the possibility of the […]<\/p>\n","protected":false},"author":56,"featured_media":102260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17837,22537,17838],"class_list":["post-102215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-shib-burn","tag-shib-price-2","tag-shiba-inushib"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/SHIB-Burn-Soars-7400-As-Exec-Burns-80M-Coins-Shiba-Inu-Eyes-0.0004.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=102215"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/102260"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=102215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=102215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=102215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}