Shiba

2024

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Shiba Inu

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<p dir="ltr">The Shiba Inu (SHIB) burn rate has displayed an unusual anomaly in the past 24 hours. After a<a href="https://u.today/56-billion-shiba-inu-torched-in-24-hours-whats-happening" rel="noopener noreferrer nofollow">landmark rally</a> in the past week, the last time any SHIB entered the burn wallet was two days ago.<a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Per</a> data from Shibburn, 0 Shiba Inu have been incinerated in the past 24 hours in what appears to be a major cool-off period for the community.</p>
<h2 id="shiba-inu-and-community-contribution">Shiba Inu and community contribution</h2>
<p dir="ltr">The past 24 hours have been largely uneventful in the Shiba Inu ecosystem, with prices down and no token burnt. According to the current outlook, the total SHIB burnt in 24 hours remains pegged at 410,737,062,511,061 tokens. The circulating supply is 410,737,062,511,061 SHIB, showcasing how stretched the push for a massive reduction is.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> Price: $0.00001717 (1hr 0.96% ▲ | 24hr 1.84% ▲ )Market Cap: $10,058,138,588 (1.14% ▲)Total Supply: 589,262,937,488,938TOKENS BURNTPast 24Hrs: 0 (0% ▲)Past 7 Days: 5,751,747,459 (5926.4% ▲)</p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1853316290691092892?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 4, 2024</a>
</blockquote>
<p dir="ltr">Despite introducing the Shibarium<a href="https://u.today/shiba-inus-shibarium-now-has-burn-portal" rel="noopener noreferrer nofollow">burn portal</a>, token burning is still largely a product of community contributions. The burn rate has failed to move for over 24 hours, with no one deeming it fit to send some SHIB to the burn wallet.</p>
<p dir="ltr">This is a rare trend for a token whose price of $100 or less could incinerate a sizable chunk of the supply. One major succor here is that, as with<a href="https://u.today/0-shiba-inu-shib-in-24-hours-whats-happening" rel="noopener noreferrer nofollow">other burn events</a> where 0 SHIB goes to the burn address. This is potentially a temporary trend.</p>
<h2 id="shib-price-outlook">SHIB price outlook</h2>
<p dir="ltr">The Shiba Inu token is in the red zone as many altcoins are receding from the previous week's gains. At the time of writing, the token is down by 1.67% in 24 hours to $0.00001679. Notably, the past week's sell-off has fueled a steeper 4.84% slip in the past month.</p>
<p dir="ltr">Should the Shiba Inu's burn rate recover in the coming days, it might also positively prop up the token's price. As of this writing, the goal is to reach a floor price to trigger a rebound.</p> <a href="https://u.today/0-shiba-inu-in-24-hours-whats-happening" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

0 Shiba Inu in 24 Hours, What's Happening?

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