COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Shiba Inu Meme Coin Reignites Interest with Surge in Token Burns
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Shiba (SHIB) > Shiba Inu Meme Coin Reignites Interest with Surge in Token Burns
Shiba (SHIB)

Shiba Inu Meme Coin Reignites Interest with Surge in Token Burns

In Brief

  • Shiba Inu's token burn rate jumps 459% in 24 hours.

  • Whale activity spotted amidst the ongoing downtrend.

  • Despite burns, Shiba Inu's price continues to fall.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Operating on the Ethereum Blockchain, the second-largest memecoin Shiba Inu (SHIB) has re-entered the spotlight of the crypto world after a significant increase in its token burn rate. Data compiled by the platform Shibburn tracking Shiba Inu’s token burns reveals a 459% increase in the burn rate over the last 24 hours. According to Etherscan data, this increase in the token burn rate was achieved by transferring a substantial amount of SHIB to an inaccessible wallet address.

Contents
SHIB in the Spotlight with Major Token Burns and Strong Whale ActivityDespite Token Burns, Shiba Inu Price Continues to Decline

SHIB in the Spotlight with Major Token Burns and Strong Whale Activity

According to data presented by Shibburn, the token burn rate for Shiba Inu increased by 459% in the last 24 hours, with a staggering 146.26 million SHIB tokens burned and removed from circulation. This tremendous token burn rate was achieved through the initiatives of the Shiba Inu community. The community continues to support token burning, with one member transferring 100 million SHIB to a dead wallet address in the last 24 hours, contributing to this increase.

Interestingly, amidst this ongoing downtrend, whale movements have also been observed. Chain-internal data compiled by the Whale Alert platform indicates that 4.27 trillion SHIB tokens were transferred between anonymous wallets.

Despite Token Burns, Shiba Inu Price Continues to Decline

The price of Shiba Inu’s SHIB has fallen by 2.71% in the last 24 hours and is currently trading at $0.000009013. The weekly price chart indicates a 6.08% decrease for SHIB, while the monthly chart points to a 15.96% decline.

Current data shows that the total number of SHIB tokens burned since the initial supply has reached 410.708 trillion. Despite this massive amount of tokens being burned and removed from circulation, the memecoin’s price still faces a significant drop.

With the strong support of the community for ongoing token burns, the memecoin’s price is expected to rise over time. Moreover, the detected whale transactions suggest that large investors are showing interest in the memecoin.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Shiba Inu Community Boosts Digital Payments with SHIB Pay

Shiba Inu Community Burns Tokens to Boost Future Prospects

Shiba Inu Surge Captivates Large Investors

Shiba Inu Sparks Excitement with Potential for Massive Price Surge

Shiba Inu Makes Waves with Shibarium DappStore Launch

COINTURK NEWS 23 January, 2024 - 12:56 pm 23 January, 2024 - 12:56 pm
Share This Article
Facebook Twitter
Share
Previous Article Why Investors From Solana (SOL) & Ripple (XRP) Are Buying Into the Kelexo (KLXO) Presale
Next Article Bitcoin Price Retreats to Recent Lows Amid Market Developments
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Bitcoin Investment Surge Captivates Institutional Attention
Cryptocurrency News
Crypto Markets Surge as Ethereum Breaks Barriers
Ethereum (ETH)
Metaplanet Ramps Up Bitcoin Investments with Bold Financial Moves
Bitcoin (BTC)
Discover How XRP Accelerates the Pharma Payment Network in Seconds
Ripple (XRP)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?