Shiba

Burn

Epic

Shiba Inu

Mode

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p dir="ltr">Shiba Inu (SHIB) has seen a number of its metrics explode in recent times with price and burn rate setting an unexpected revival boost. After&nbsp;<a href="https://www.shibburn.com/">dropping</a> as low as $0.00001667 in the past 24 hours, Shiba Inu is now back to $0.00001728 atop 2.35% growth in 24 hours.</p>
<h2 id="shiba-inu-burn-rate-as-uptick-catalyst">Shiba Inu burn rate as uptick catalyst</h2>
<p dir="ltr">Shiba Inu has seen its&nbsp;<a href="https://u.today/shib-burns-soar-out-of-red-in-single-hour-with-massive-shib-lump-scorched">burn rate</a> metric jump as high as 229% in the past 24 hours with a total of 3,773,286 SHIB sent to dead wallets. While this SHIB quantity incinerated might be small, it underscores a very significant resilience push for the meme coin.</p>
<p dir="ltr">For a deflationary process that is generally based on the prerogative of community members, having any uptick in this metric is a boost. This is because it underscores the positive disposition of the community to the ecosystem.</p>
<p dir="ltr">With the latest uptick, the total number of Shiba Inu burned since inception is now pegged at 410,727,773,365,286 SHIB. This leaves a total of 583,403,333,110,986 SHIB in circulation, which the protocol hopes to reduce over time.</p>
<p dir="ltr">The ultimate goal here is to raise the inherent valuation of the asset to the long-term target of 1 cent.</p>
<h2 id="ambitious-shib-pursuit">Ambitious SHIB pursuit</h2>
<p dir="ltr">Just like any project, the underlying goal of the Shiba Inu protocol is different from that of its community members. While some HODLers are only interested in price action, the core token developers, including&nbsp;<a href="https://u.today/ryoshis-and-shytoshi-kusamas-crucial-roles-explained-by-shib-team">Shytoshi Kusama</a>, want to build a futuristic Web3 hub with products that are widely adopted across the world.</p>
<p dir="ltr">The team has revealed some incoming projects and services that might go live on-chain. Besides Shibacal NFTs and&nbsp;<a href="https://u.today/shiba-inu-insider-drops-major-shiba-eternity-update-whats-new">Shiba Eternity</a>, the Shiba Inu ecosystem is growing at a very fast pace with more products to be unveiled soon.</p>

Shiba Inu Burn Rate Jumps 225% as SHIB Enters Epic Rebound Mode

Table of Contents

U_Today

Other articles published on Jul 27, 2024

VanEck Teases Solana ETF Again As SOL Surpasses BNB for 4th Spot

Here's Why VET’s Corrective Phase Could Set Up for a Strong Bullish Wave Ahead

Blockchain Development Tools and Frameworks

Comrades In Crime: Russian-Speaking Hackers Bag 70% Of Crypto Proceeds – Report

Polkadot Smart Contracts Bold Move: 1.6 Million Users Benefit from Enhanced Flexibility

Nic Carter Hands 10 Action Plans To Kamala Harris To Gain Crypto Support

Join our free newsletter for daily crypto updates!