{"id":73681,"date":"2024-03-15T02:39:06","date_gmt":"2024-03-15T06:39:06","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73681"},"modified":"2024-03-15T02:40:07","modified_gmt":"2024-03-15T06:40:07","slug":"shiba-inu-community-burns-25-mln-coins-amid-price-decline","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/shiba-inu-community-burns-25-mln-coins-amid-price-decline\/","title":{"rendered":"Shiba Inu Community Burns 25 Mln Coins Amid Price Decline"},"content":{"rendered":"\n

The renowned meme coin Shiba Inu<\/a> witnessed a burn rate increase of nearly 70%, with 25 million coins burned by the community amid\u00a0a price decline.<\/p>\n\n\n\n

\"Shiba<\/figure>\n\n\n\n

As of today, March 15, a remarkable occurrence was observed within the Shiba Inu's ecosystem. <\/p>\n\n\n\n

The SHIB burn upsurge,\u00a0propelled by the enormous transfer to a dead wallet by the Shiba crypto community<\/a>, seems to be gathering significant traction in the global cryptocurrency domain.<\/p>\n\n\n\n

Amid this extraordinary increase in the burn rate, SHIB's significant decline observed today, according to CoinMarketCap's data, sparked a whirlwind of speculation among crypto market enthusiasts worldwide, who questioned the meme coin's price behavior in contrast to the increase in the burn rate.<\/p>\n\n\n\n

Meanwhile, SHIB's surge of nearly 200% over the past month caused swells to form across the vast ocean of cryptocurrencies.<\/p>\n\n\n\n

Recent days have witnessed the introduction of a multitude of new features within the Shiba Inu ecosystem, which has further bolstered positive sentiments regarding the meme coin.<\/p>\n\n\n\n

However, investors are speculating regarding the future price movement of SHIB in light of today's substantial decline.<\/p>\n\n\n\n

Shiba Inu Community's Bold Steps to Support SHIB<\/h2>\n\n\n\n

As revealed by the tracker Shibburn, the transfer of 25.16 million SHIB by the community to a dead wallet substantially increased the burn rate today, following its descent into the negative region.<\/p>\n\n\n\n

An almost 70% increase in the burn rate after the community's enormous dead wallet transfer served as further evidence of the meme coin's commune's endeavors to strengthen SHIB's market dynamics.<\/p>\n\n\n\n

\n

HOURLY SHIB UPDATE$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> Price: $0.0000302 (1hr -2.09% \u25bc | 24hr -9.07% \u25bc )
Market Cap: $17,918,682,188 (-10.17% \u25bc)
Total Supply: 589,276,172,747,024

TOKENS BURNT
Past 24Hrs: 25,670,010 (69.38% \u25b2)
Past 7 Days: 14,407,657,377 (2081.03% \u25b2)<\/p>— Shibburn (@shibburn) March 15, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

In contrast, Shiba Inu continued to portray a bullish picture for the broader cryptocurrency market even as the weekly burn increased by 2081% to incinerate 14.40 billion coins.<\/p>\n\n\n\n

The market is optimistic regarding Shiba Inus as a result of the community's recent innovative endeavors, which include the launch of a.Shib name service and the formation of new strategic partnerships, among many others highlighted in The Shib.<\/p>\n\n\n\n

However, the meme coin has experienced significant volatility in trading over the last week, and as of press time, it has experienced a substantial decline.<\/p>\n\n\n\n

SHIB Slips<\/h2>\n\n\n\n

At the time of writing, the price of the Shiba Inu coin has decreased significantly over the past 24 hours, falling by 10.33% to $0.00002982.<\/p>\n\n\n\n

Additionally, the meme coin has precipitated a bearish quicksand due to its precipitous decline below $0.00003, which has engulfed the community's recent development efforts and smoldering chronicles.<\/p>\n\n\n\n

Jacob Crypto, a prominent expert in the crypto market, recently discussed the potential for a significant surge in SHIB price in a YouTube video. <\/p>\n\n\n\n

He identified a remarkably optimistic price juncture for Shiba Inu in the future.<\/p>\n\n\n\n

However, the derivatives data\u00a0<\/use><\/svg><\/span><\/a>suggested that the OI-weighted funding rate and open interest may decline, while volume increased significantly.<\/p>\n\n\n\n

Enhanced market activity indicated an adverse sentiment among investors, which could potentially facilitate a forthcoming price action shift.<\/p>\n\n\n\n

In conjunction with a 33.56% increase in 24-hour trading volume and technical indicators indicating a buying sentiment, crypto market enthusiasts anticipate impending price action shifts.<\/p>\n","protected":false},"excerpt":{"rendered":"

The renowned meme coin Shiba Inu witnessed a burn rate increase of nearly 70%, with 25 million coins burned by the community amid\u00a0a price decline. As of today, March 15, a remarkable occurrence was observed within the Shiba Inu’s ecosystem.  The SHIB burn upsurge,\u00a0propelled by the enormous transfer to a dead wallet by the Shiba […]<\/p>\n","protected":false},"author":56,"featured_media":73684,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17837,17838],"class_list":["post-73681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-shib-burn","tag-shiba-inushib"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/shiba-inu-burn-e1704371211799.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73681","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=73681"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73681\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73684"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}