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’s Token Burning Rate Surges, Attracting Crypto Community Attention
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’s Token Burning Rate Surges, Attracting Crypto Community Attention
Shiba (SHIB)

Shiba Inu’s Token Burning Rate Surges, Attracting Crypto Community Attention

In Brief

  • Shiba Inu (SHIB) sees significant increase in token burning rate.

  • Over 410 trillion SHIB tokens have been removed from circulation.

  • Despite on-chain activity surge, SHIB's price experiences a slight decline.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Ethereum (ETH) based leading memecoin Shiba Inu (SHIB) has once again recorded a significant increase in its token burning rate, drawing the attention of the cryptocurrency world. The platform that tracks SHIB burns, Shibburn, indicates that the recent SHIB burns have increased in parallel with the rise in on-chain activity.

Contents
Token Burns in Shiba Inu Continue to RiseThe Current State of SHIB’s Price

Token Burns in Shiba Inu Continue to Rise

Throughout the week, the significant strides seen in Shiba Inu have attracted the interest of many cryptocurrency traders and investors. Initially, the continuous increases in the SHIB burn rate gathered notable interest. The SHIB burn rate first increased by 232.85%, then by 459%, and most recently by an astonishing 4,250.91%, capturing the attention of the broader cryptocurrency market. In parallel, 410.70 trillion SHIB tokens have been burned and removed from circulation to date.

The trend of token burns for Shiba Inu continues to move in an upward trajectory, with Shibarium, a Shiba Inu-supported Layer 2 network, also reaching new heights. Although daily transactions on the network remain at a relatively low level, the total number of transactions has reached 308.07 million, indicating a significant increase in on-chain activity within Shibarium.

Moreover, whale transactions for Shiba Inu have also been increasing throughout the week. In particular, the movement of approximately 4 trillion SHIB at the beginning of the week caught the attention of cryptocurrency enthusiasts.

The Current State of SHIB’s Price

The price chart of Shiba Inu shows a limited decline of 0.40% in the last 24 hours, currently trading at $0.000008901. Additionally, there is a 5.57% decrease on the weekly chart and a 17.43% decrease on the monthly chart.

Interestingly, this price drop is occurring despite the recent tremendous increase in the memecoin’s on-chain side. Nevertheless, Shiba Inu investors are expecting a rise in price due to both the continued increase in token burns and the growing on-chain activity.

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 26 January, 2024 - 1:36 pm 26 January, 2024 - 1:36 pm
Share This Article
Facebook Twitter
Share
Previous Article Significant Growth in Bitcoin Accumulation Revealed
Next Article Investor Chris Burniske Predicts Bitcoin’s Struggle to Regain Lost Value
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

Trump Cuts Ties with Lobby Firm Over Digital Asset Controversy
Cryptocurrency News
Lido Finance Empowers stETH Holders with New Governance Proposal
Cryptocurrency News
Coinbase Embraces Innovative Strategy by Managing Bitcoin Holdings Differently
Bitcoin (BTC) Coinbase
Crypto Markets Surge with Bitcoin’s Impressive Rise
Cryptocurrency News
//

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?