Shiba

Token

2024

Shiba Inu

<ul class="news-points">
 <li><strong>Shiba Inu burned 71.18 million SHIB tokens.</strong></li>
 <li><strong>About 69 million incinerated SHIB tokens were linked to LumiBots.</strong></li>
 <li><strong>The SHIB community calls for more burns, including suggestions for Binance’s involvement.</strong></li>
</ul>
<p>Shiba Inu has captured market attention with its latest burn of 71.18 million (worth $1,151) SHIB tokens across seven transactions earlier today. According to <a href="https://www.shibburn.com/" target="_blank" rel="noopener noreferrer nofollow">data</a> from SHIB burn tracker Shiba Inu, this burn caused a 4,000% surge in the token’s burn rate, surpassing previous records.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">In the past 24 hours, there have been a total of 71,187,963 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SHIB</a> tokens burned and 7 transactions. Visit <a href="https://t.co/t0eRMnyZel" target="_blank" rel="noopener noreferrer nofollow">https://t.co/t0eRMnyZel</a> to view the overall total of <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SHIB</a> tokens burned, circulating supply, and more. <a href="https://t.co/0H6Ilp01aE" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/0H6Ilp01aE</a></p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1811611714200207539?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Token burning involves permanently removing tokens from circulation by sending them to an inaccessible address, effectively destroying them. This creates scarcity, potentially increasing the token’s value. Of the seven token burn transactions tracked over the past day, the largest occurred at 13:17 (UTC) on July 11. An <a href="https://www.shibburn.com/btx/0x12e840b92886fc6d0f3d6bf7f63ba9ad44f4fb777891ae480a1984c9461dc023" target="_blank" rel="noopener noreferrer nofollow">unknown wallet</a> transferred 69 million SHIB worth $1,116 to an inactive wallet. While Shibburn…</p>
<p>The post <a href="https://coinedition.com/shiba-inus-burning-question-will-token-burns-drive-price-higher/" rel="noopener noreferrer nofollow">Shiba Inu’s Burning Question: Will Token Burns Drive Price Higher?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Shiba Inu’s Burning Question: Will Token Burns Drive Price Higher?

Coin Edition

Other articles published on Jul 12, 2024

ETF Negotiations Started for a Surprise Altcoin After Solana (SOL)!

Countdown to Fortune: 37 Days Until BlockDAG’s $2M Giveaway! Ride the BONK Wave & Catch Up on XRP

AS Roma Fan Token Offers Fans Unique Interaction Opportunities

Crypto: Are Shiba Inu Whales About to Propel the Price of SHIB?

MoonBag Presale Attracts Interest from Shiba Inu and SingularityNet Investors

5 Major Reversal Indicators for Crypto Market in July: Goldman Sachs, ETH ETF S-1 filings and More

Join our free newsletter for daily crypto updates!