Shiba

Based

Burn

Shiba Inu

Inu.

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<p dir="ltr">Shiba Inu (SHIB) is making a play for a sustained recovery, considering the mild uptick in its core deflationary feature, the burn rate. At the time of writing, the burn rate is up 101%,&nbsp;<a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">according</a> to data from Shibburn, placing the total burnt in 24 hours at 19,603,797 SHIB.</p>
<h2 id="shiba-inu-wants-to-make-difference">Shiba Inu wants to make difference</h2>
<p dir="ltr">While different altcoins are all pulling strings in their respective ecosystems, Shiba Inu hopes to make a really big difference. The meme coin has managed to maintain its posture as the 12th largest cryptocurrency after being&nbsp;<a href="https://u.today/tron-dethrones-shiba-inu-shib-while-founder-justin-sun-buys-ethereum" rel="noopener noreferrer nofollow">dethroned by Toncoin</a>; however, it plans to reclaim a spot in the top 10.</p>
<p dir="ltr">After a week of intensive price drawdowns, this uptick in the burn rate is a major way to start working toward the top 10. With the 101% surge in this metric, it is evident that there are more community members interested in deflating Shiba Inu despite bearish market sentiment.</p>
<p dir="ltr">With current figures, the total SHIB now sent to burn addresses now tops 410,727,062,984,335 tokens, with a monetary value of $7.26 billion.&nbsp;</p> <img data-entity-type="file" data-entity-uuid="9a6d12ba-90ac-4d75-a6fb-e15b15856af8" src="https://u.today/sites/default/files/inline-images/Shibburn%202.jpg"><a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Shiba Inu Burn Chart. Source: Shibburn</a>
<p dir="ltr">The total number of Shiba Inu remaining in circulation is now worth 583,318,233,745,151 SHIB after discounting meme coins locked in staking smart contracts, bringing the sum to 5,954,703,270,513 SHIB.</p>
<h2 id="implications-for-price">Implications for price</h2>
<p dir="ltr">Based on precedent, the 19 million SHIB burnt overnight is too small to influence price uptick. However, it adds to the&nbsp;<a href="https://u.today/1-trillion-shiba-inu-shib-transfer-stuns-worlds-largest-exchange" rel="noopener noreferrer nofollow">growing statistics</a> of bullish metrics around Shiba Inu. It is also coming at a time when the price of the meme coin is wriggling out of the bearish zone.</p>
<p dir="ltr">At the time of writing, SHIB was changing hands for $0.00001763, up by more than 2.6% in the past 24 hours. At this pace, both the SHIB burn rate and steady&nbsp;<a href="https://u.today/shib-executive-hints-at-shiba-inu-teams-progress-future-is-bright" rel="noopener noreferrer nofollow">Shiba Inu ecosystem growth</a> might help make a difference in the near term.</p>

Shiba Inu (SHIB) Burn Rate at 101%, Something Big Coming

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