{"id":91787,"date":"2024-08-30T07:04:28","date_gmt":"2024-08-30T11:04:28","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=91787"},"modified":"2024-08-30T08:17:08","modified_gmt":"2024-08-30T12:17:08","slug":"shiba-inu-burn-surges-over-28000","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/shiba-inu-burn-surges-over-28000\/","title":{"rendered":"Shiba Inu Burn Surges Over 28,000%, SHIB Price Rally Ahead?"},"content":{"rendered":"\n

Shiba Inu<\/a> burn rate soared over 28,000% today, sparking investor interest in SHIB price activity.<\/p>\n\n\n\n

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

The Shiba Inu (SHIB) meme cryptocurrency has once again sparked optimism among crypto market traders and investors worldwide.<\/p>\n\n\n\n

The dog-themed meme token saw a staggering increase of over 28,000% in its burn rate today, leading to highly bullish market sentiments regarding SHIB's future price movement.<\/p>\n\n\n\n

Additionally, the token recently achieved a significant futures listing on a well-known cryptocurrency exchange, further boosting investor confidence in the broader market.<\/p>\n\n\n\n

Shiba Inu Burn Soars Over 28,000%, Boosting Market Optimism<\/h2>\n\n\n\n

According to data provided by the Shibbrun tracker on X, on August 30, Shiba Inu\u2019s burn rate skyrocketed by an impressive 28,145% in the last 24 hours.<\/p>\n\n\n\n

This substantial increase is largely due to the burning of 96.43 million SHIB in the past day alone.<\/p>\n\n\n\n

Moreover, the weekly burn rate saw a surge of 301% as of press time, contributing to the growing optimism for the token.<\/p>\n\n\n\n

The SHIB community<\/a> reported on X that 172.99 million tokens were burned over the past seven days.<\/p>\n\n\n\n

At the same time, the total supply of SHIB was reduced to 589.27 trillion, thanks to these significant burns.<\/p>\n\n\n\n

As the leading meme coin\u2019s supply decreases, market sentiments have turned bullish, reflecting the basic economic principle of supply and demand.<\/p>\n\n\n\n

It's also worth mentioning that Shiba Inu has been listed for futures trading on Kraken, one of the top crypto exchanges.<\/p>\n\n\n\n

This recent development enhances the appeal of the meme token to investors, providing greater flexibility and accessibility in trading options.<\/p>\n\n\n\n

Overall, these recent developments present an optimistic outlook for SHIB\u2019s future price action. However, the token is currently trading in the red today.<\/p>\n\n\n\n

SHIB Price Declines Today, But Will It Rise?<\/h2>\n\n\n\n

As of press time, the price of 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>has dropped by 0.7% in the past 24 hours, trading at $0.00001393. The token\u2019s intraday low and high were recorded at $0.00001389 and $0.00001452, respectively.<\/p>\n\n\n\n

Today\u2019s downward movement aligns with the broader market trend, as Bitcoin and other major cryptocurrencies have also experienced a decline in today\u2019s trading session.<\/p>\n\n\n\n

However, data from Coinglass showed a 0.44% increase in Shiba Inu futures open interest (OI) over a 4-hour period.<\/p>\n\n\n\n

This was accompanied by a 0.06% rise in the 24-hour chart, with the OI standing at $28.44 million at the time of writing.<\/p>\n\n\n\n

Despite this, the token\u2019s derivatives volume decreased by 15.33%, falling to $44.48 million, which has sparked speculation among market participants.<\/p>\n\n\n\n

Meanwhile, the Relative Strength Index (RSI) was at 45, indicating a neutral position for the asset.<\/p>\n\n\n\n

Overall, market statistics suggest that the coin may face short-term volatility, although long-term prospects remain positive, with the ongoing burn rate further influencing its outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu burn rate soared over 28,000% today, sparking investor interest in SHIB price activity. The Shiba Inu (SHIB) meme cryptocurrency has once again sparked optimism among crypto market traders and investors worldwide. The dog-themed meme token saw a staggering increase of over 28,000% in its burn rate today, leading to highly bullish market sentiments […]<\/p>\n","protected":false},"author":56,"featured_media":91795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6126,17837,17838],"class_list":["post-91787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-shib-price","tag-shib-burn","tag-shiba-inushib"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/Shiba-Inu-Burn-Surges-Over-28000-SHIB-Price-Rally-Ahead.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/91787","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=91787"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/91787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/91795"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=91787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=91787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=91787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}