SHIBSurge
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"🚀 Shiba Inu's Journey to $1: Can It Happen? 🐕💰
Exciting news from the Shiba Inu team reveals plans for Shibarium to burn SHIB tokens starting January 2024. With 70% of transaction fees destined for token burns, could this pave the way to $1? Let's explore!
🔥 Shibarium's burn mechanism is set to make an impact, but reaching $1 won't be immediate. Even with 3 trillion tokens burned annually, it could take nearly a century to hit $1 given the current dynamics.
💡 However, if Shibarium scales up its burn rate to over 100 trillion tokens per year, the dream of $1 becomes more feasible.
🌟 Stay tuned for updates on SHIB's journey to the moon! #SHIBFuture #SHIBSurge
Exciting news from the Shiba Inu team reveals plans for Shibarium to burn SHIB tokens starting January 2024. With 70% of transaction fees destined for token burns, could this pave the way to $1? Let's explore!
🔥 Shibarium's burn mechanism is set to make an impact, but reaching $1 won't be immediate. Even with 3 trillion tokens burned annually, it could take nearly a century to hit $1 given the current dynamics.
💡 However, if Shibarium scales up its burn rate to over 100 trillion tokens per year, the dream of $1 becomes more feasible.
🌟 Stay tuned for updates on SHIB's journey to the moon! #SHIBFuture #SHIBSurge
Shiba Inu (SHIB) Price Prediction: Can It Hit $0.000014 Before 2024?
Shiba Inu holds strong: SHIB investors may anticipate potential 30% surge following analyst's bullish prediction.
In a comprehensive analysis, Martinez suggested that SHIB might experience a significant breakout if it manages to uphold the crucial support level at $0.0000103.
The analyst's forecast, made when SHIB was valued at $0.000011, has already seen some validation as the token surged to nearly $0.000012 before a modest correction of over 10%.
Despite the correction, SHIB resiliently clung to the $0.0000103 level, a key point identified by Martinez. Presently, the meme token is trading 4% above this level, giving credence to the analyst's predictions. SHIB traders are now closely monitoring this level, as a sustained hold could potentially trigger another wave of upside, with the potential for a more than 30% increase.
Yesterday's remarkable performance saw the token gain over 20%, leaving a substantial green daily candle on the price chart. This surge contributed to a notable 28% rate of return for the Shiba Inu token since the start of December.
With momentum building and Martinez's predictions gaining traction, the community is eagerly speculating on whether SHIB can reach the projected target of $0.000014 before the close of 2024.
Shiba Inu enthusiasts are on the edge of their seats, as their favorite token continues to defy common expectations. The question remains: Can SHIB achieve the projected surge, or will external factors influence its trajectory in the coming days?
#SHIBSurge #SHIBFuture #ShibaInuAI #Priceanalysis #CryptoScoop
$SHIB
Shiba Inu holds strong: SHIB investors may anticipate potential 30% surge following analyst's bullish prediction.
In a comprehensive analysis, Martinez suggested that SHIB might experience a significant breakout if it manages to uphold the crucial support level at $0.0000103.
The analyst's forecast, made when SHIB was valued at $0.000011, has already seen some validation as the token surged to nearly $0.000012 before a modest correction of over 10%.
Despite the correction, SHIB resiliently clung to the $0.0000103 level, a key point identified by Martinez. Presently, the meme token is trading 4% above this level, giving credence to the analyst's predictions. SHIB traders are now closely monitoring this level, as a sustained hold could potentially trigger another wave of upside, with the potential for a more than 30% increase.
Yesterday's remarkable performance saw the token gain over 20%, leaving a substantial green daily candle on the price chart. This surge contributed to a notable 28% rate of return for the Shiba Inu token since the start of December.
With momentum building and Martinez's predictions gaining traction, the community is eagerly speculating on whether SHIB can reach the projected target of $0.000014 before the close of 2024.
Shiba Inu enthusiasts are on the edge of their seats, as their favorite token continues to defy common expectations. The question remains: Can SHIB achieve the projected surge, or will external factors influence its trajectory in the coming days?
#SHIBSurge #SHIBFuture #ShibaInuAI #Priceanalysis #CryptoScoop
$SHIB
Shiba Inu’s incendiary surge: Over 15B SHIB burned in March blitz
Although Shiba Inu (SHIB) has slowed down and started to reverse the gains it accumulated in previous weeks alongside the rest of the cryptocurrency market, it is recording increased activity on its network, particularly in terms of burning of its excess tokens.
As it happens, the Shiba Inu network witnessed a massive growth in burn rate in March, having successfully burned as many as 15.6 billion SHIB tokens over the course of the month alone, according to the data obtained from the SHIB burn tracker platform Shibburn on April 2.
In other words, the SHIB burn rate in March has soared by an impressive 2,330.54%, and further breaking down the numbers shows that the single most successful day was March 8, during which the network recorded almost 14 million SHIB burned in total.
$SHIB
#Memecoins #BullorBear #SHIB #Write2Earrn #SHIBSurge
Although Shiba Inu (SHIB) has slowed down and started to reverse the gains it accumulated in previous weeks alongside the rest of the cryptocurrency market, it is recording increased activity on its network, particularly in terms of burning of its excess tokens.
As it happens, the Shiba Inu network witnessed a massive growth in burn rate in March, having successfully burned as many as 15.6 billion SHIB tokens over the course of the month alone, according to the data obtained from the SHIB burn tracker platform Shibburn on April 2.
In other words, the SHIB burn rate in March has soared by an impressive 2,330.54%, and further breaking down the numbers shows that the single most successful day was March 8, during which the network recorded almost 14 million SHIB burned in total.
$SHIB
#Memecoins #BullorBear #SHIB #Write2Earrn #SHIBSurge
77.77 Billion SHIB Transferred by FTX Exchange, Here’s SHIB Price Reaction
Massive transfer of Shiba Inu meme coins from battered FTX platform reported
The bankrupt FTX exchange continues to move the remains of its assets to convert them into fiat and repay the debt to its creditors.
This time, it shoveled nearly 80 billion of Shiba Inu (SHIB), 1,643 Ethereum (ETH), as well as millions of other cryptocurrencies, according to a recent tweet published by blockchain sleuth @lookonchain. In the meantime, the Shiba Inu price has shown a small rise over the past 24 hours. But over the past two days, the price has increased by almost 3%.
Lookonchain has reported that several hours ago, the FTX exchange and the trading firm Alameda Research that basically caused the bankruptcy transferred nearly a dozen of hefty chunks of various cryptocurrencies. This included an impressive chunk of Shiba Inu (77.77 billion SHIB) and Ethereum (1,643 ETH), worth $652,000 and $3.43 million each. The transfer also carried millions of IMX, GMT, UNI, BAL, LOOKS and less than a million WOO. All of the crypto that was transferred is evaluated at $22 million approximately, according to the source.
As of now, the administrators of FTX that took over from SBF, who has been arrested and sentenced for defrauding investors, have managed to recover approximately $7 billion worth of assets, which includes $3.4 billion in cryptocurrencies.
#SHIBSurge #SHIBFuture #shibawhale #ShibaInuUpdate #ShibaInuAI
$SHIB
Massive transfer of Shiba Inu meme coins from battered FTX platform reported
The bankrupt FTX exchange continues to move the remains of its assets to convert them into fiat and repay the debt to its creditors.
This time, it shoveled nearly 80 billion of Shiba Inu (SHIB), 1,643 Ethereum (ETH), as well as millions of other cryptocurrencies, according to a recent tweet published by blockchain sleuth @lookonchain. In the meantime, the Shiba Inu price has shown a small rise over the past 24 hours. But over the past two days, the price has increased by almost 3%.
Lookonchain has reported that several hours ago, the FTX exchange and the trading firm Alameda Research that basically caused the bankruptcy transferred nearly a dozen of hefty chunks of various cryptocurrencies. This included an impressive chunk of Shiba Inu (77.77 billion SHIB) and Ethereum (1,643 ETH), worth $652,000 and $3.43 million each. The transfer also carried millions of IMX, GMT, UNI, BAL, LOOKS and less than a million WOO. All of the crypto that was transferred is evaluated at $22 million approximately, according to the source.
As of now, the administrators of FTX that took over from SBF, who has been arrested and sentenced for defrauding investors, have managed to recover approximately $7 billion worth of assets, which includes $3.4 billion in cryptocurrencies.
#SHIBSurge #SHIBFuture #shibawhale #ShibaInuUpdate #ShibaInuAI
$SHIB
Shiba Inu would need to increase its market capitalization by more than 1000 times to reach $0.01 in 2024, which would make it the largest cryptocurrency in the world, surpassing Bitcoin and Ethereum. This would require a massive influx of new investors, a significant adoption of Shiba Inu as a medium of exchange, and a favorable regulatory environment for crypto. All of these factors are very uncertain and unpredictable.#BinanceTournament #etf #SHIBSurge
Shiba Inu Lead Shytoshi Kusama Reacts to SHIB Whitepaper's Deep Insights.
Shiba Inu lead Shytoshi Kusama smiles in response to intriguing revelations found in SHIB whitepaper.
In a surprising turn of events, the lead figure in the Shiba Inu community, known as Shytoshi Kusama, expressed sheer delight upon discovering revelations buried within the Shiba Inu (SHIB) whitepaper. The Shiba Inu enthusiast, who has been a vocal force in the SHIB community, took to social media to share his elation.
The cryptic world of SHIB token was illuminated as the enthusiast delved into specific sections of the whitepaper. In a social media post that quickly gained traction, the user emphasized the crucial need for every SHIB enthusiast to thoroughly peruse the document, hinting at a wealth of untapped knowledge. The undisclosed user highlighted a particularly intriguing excerpt from Section 4.1, shedding light on the symbolic role of the Shib token in propelling the legislative machinery. According to the whitepaper, SHIB token is more than just a digital asset; it symbolizes a democratic fabric, ensuring every "Shibizen" has an equitable voice in shaping the collective journey. From council elections to legislative decisions, the Shiba Inu token aims to guarantee transparency and participative democracy, states the document.
#SHIBSurge #ShibaInuUpdate #shibawhale #ShibaInuRevolution #SHIBFuture
$SHIB $BNB $ETH
Shiba Inu lead Shytoshi Kusama smiles in response to intriguing revelations found in SHIB whitepaper.
In a surprising turn of events, the lead figure in the Shiba Inu community, known as Shytoshi Kusama, expressed sheer delight upon discovering revelations buried within the Shiba Inu (SHIB) whitepaper. The Shiba Inu enthusiast, who has been a vocal force in the SHIB community, took to social media to share his elation.
The cryptic world of SHIB token was illuminated as the enthusiast delved into specific sections of the whitepaper. In a social media post that quickly gained traction, the user emphasized the crucial need for every SHIB enthusiast to thoroughly peruse the document, hinting at a wealth of untapped knowledge. The undisclosed user highlighted a particularly intriguing excerpt from Section 4.1, shedding light on the symbolic role of the Shib token in propelling the legislative machinery. According to the whitepaper, SHIB token is more than just a digital asset; it symbolizes a democratic fabric, ensuring every "Shibizen" has an equitable voice in shaping the collective journey. From council elections to legislative decisions, the Shiba Inu token aims to guarantee transparency and participative democracy, states the document.
#SHIBSurge #ShibaInuUpdate #shibawhale #ShibaInuRevolution #SHIBFuture
$SHIB $BNB $ETH
🚀 Exciting SHIBA News 🐶 + BONE 🦴 Updates 🌟
🪞 Join the conversation on Binance Square as we explore the latest in the SHIBA and BONE world! Kusama's response to burning BONE has sparked discussions. 🔥💬
👀 A Shibarium user suggested a unique approach to burning BONE, and Kusama shared a decisive perspective. Dive into the conversation about the burning strategy, transaction fees, and the future of SHIB! 🔥💰
💡 Curious about the impact of SHIB burns on its price? Engage with fellow community members seeking clarity on Shibarium's community-driven nature. Kusama's response might surprise you! 😮💬
🌐 Don't miss out on the vibrant discussions—tip and support the community on Binance Square! Your contributions make a difference. 🤝💎
#BinanceTournament #SHIBSurge
🪞 Join the conversation on Binance Square as we explore the latest in the SHIBA and BONE world! Kusama's response to burning BONE has sparked discussions. 🔥💬
👀 A Shibarium user suggested a unique approach to burning BONE, and Kusama shared a decisive perspective. Dive into the conversation about the burning strategy, transaction fees, and the future of SHIB! 🔥💰
💡 Curious about the impact of SHIB burns on its price? Engage with fellow community members seeking clarity on Shibarium's community-driven nature. Kusama's response might surprise you! 😮💬
🌐 Don't miss out on the vibrant discussions—tip and support the community on Binance Square! Your contributions make a difference. 🤝💎
#BinanceTournament #SHIBSurge
Shiba Inu: Mega Whale Buys 4 Trillion SHIB Worth $42 Million
A mysterious and unidentified Shiba Inu whale purchased a massive 4 trillion tokens on Sunday. The mega whale paid a staggering $42 million to accumulate the 4 trillion SHIB tokens during the weekend. This is the highest purchase that SHIB experienced in December this month as whales mostly stayed absent in Q4 of 2023. The unknown whale did not move or sell the tokens and might continue holding SHIB for a longer period.
The popular cryptocurrency wallet tracker bot Whale Alert was the first to dish out the transaction and make it open. “Approximately 24 hours ago, a jaw-dropping 4,238,953,460,450 SHIB tokens moved between wallets labeled as: ‘unknown.’ Interestingly, no exchanges were involved in the transaction,” wrote Whale Alert on X, formally Twitter.
Shiba Inu: Whale Buying SHIB Ahead of Shibarium Burns
The Shiba Inu team confirmed last week that Shibarium will begin burning SHIB tokens from January 2024 onwards. The mega whale is most likely banking on the SHIB burns, and therefore, took an early entry position. If Shibarium manages to burn trillions of tokens every year, the whale most likely could see the holdings balloon. Also, read here to know a realistic price prediction on when SHIB could hit the $1 mark.
Read here to know more in-depth information about how Shibarium will begin to burn SHIB tokens in 2024. If trillions of tokens are sent to the dead wallet, then the chances of SHIB sustainably scaling up in price might be possible. However, that depends on the scale of the burns as burning millions or billions of tokens will not make SHIB scarce.
At press time, Shiba Inu was trading at $0.00000975 and is down nearly 3% in the 24-hours day trade. SHIB is also down close to 89% from its all-time high of $0.00008616, which it reached in October 2021.
#SHIBFuture #SHIBSurge
A mysterious and unidentified Shiba Inu whale purchased a massive 4 trillion tokens on Sunday. The mega whale paid a staggering $42 million to accumulate the 4 trillion SHIB tokens during the weekend. This is the highest purchase that SHIB experienced in December this month as whales mostly stayed absent in Q4 of 2023. The unknown whale did not move or sell the tokens and might continue holding SHIB for a longer period.
The popular cryptocurrency wallet tracker bot Whale Alert was the first to dish out the transaction and make it open. “Approximately 24 hours ago, a jaw-dropping 4,238,953,460,450 SHIB tokens moved between wallets labeled as: ‘unknown.’ Interestingly, no exchanges were involved in the transaction,” wrote Whale Alert on X, formally Twitter.
Shiba Inu: Whale Buying SHIB Ahead of Shibarium Burns
The Shiba Inu team confirmed last week that Shibarium will begin burning SHIB tokens from January 2024 onwards. The mega whale is most likely banking on the SHIB burns, and therefore, took an early entry position. If Shibarium manages to burn trillions of tokens every year, the whale most likely could see the holdings balloon. Also, read here to know a realistic price prediction on when SHIB could hit the $1 mark.
Read here to know more in-depth information about how Shibarium will begin to burn SHIB tokens in 2024. If trillions of tokens are sent to the dead wallet, then the chances of SHIB sustainably scaling up in price might be possible. However, that depends on the scale of the burns as burning millions or billions of tokens will not make SHIB scarce.
At press time, Shiba Inu was trading at $0.00000975 and is down nearly 3% in the 24-hours day trade. SHIB is also down close to 89% from its all-time high of $0.00008616, which it reached in October 2021.
#SHIBFuture #SHIBSurge
Shiba Inu's Meteoric Rise: Google Bard Predicts a 380% Surge Post-Bitcoin Halving
Introduction:The crypto world is buzzing with anticipation as the Bitcoin halving event scheduled for April 2024 approaches. Historically, these events have catalyzed significant bullish trends across the crypto market, and Shiba Inu (SHIB), the renowned dog-themed token, seems poised to ride the wave of excitement.Current Market Snapshot:As of now, SHIB is trading at $0.000009767, reflecting a 4% dip in the last 24 hours but an impressive 18% increase over the past week, according to CoinMarketCap.Google Bard's Insights:Google's AI Chatbot, Bard, weighed in on the potential impact of the Bitcoin halving on SHIB. Bard asserts that historical data suggests bullish trends are likely, propelled by increased demand for Bitcoin and a spillover effect on meme coins like SHIB. Notably, Bard emphasizes scarcity-driven price appreciation due to the anticipated reduction in supply.Factors Influencing SHIB's Future:Bard underlines the complexity of predicting SHIB's trajectory, citing various factors such as overall market sentiment, investor confidence, the performance of major cryptocurrencies, and the success of SHIB's ongoing projects and developments. These elements will play a pivotal role in determining the magnitude of SHIB's response to the Bitcoin halving.Shiba Inu (SHIB) Price Predictions:Bard, aligning with recent market sentiments, forecasts an impressive 380% surge for SHIB. The AI chatbot outlines three key predictions for SHIB's future, setting the stage for a potentially groundbreaking journey for the dog-themed token.Conclusion:As the crypto community braces for the upcoming Bitcoin halving, all eyes are on Shiba Inu. With Google Bard's predictions hinting at a substantial surge, SHIB enthusiasts eagerly await how this meme coin will navigate the evolving crypto landscape. The intersection of market dynamics, investor sentiment, and project developments will undoubtedly shape SHIB's destiny, making it a captivating coin to watch in the coming months.Disclaimer:The information provided in this article is for informational purposes only and should not be considered as financial advice. Cryptocurrency investments involve a high level of risk, and market conditions can change rapidly. The article does not constitute a recommendation or endorsement for any specific investment strategy.Readers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.$SHIB #SHIBSurge #SHIBFuture #Halving
How Many Years Will SHIB Take To Reach $1?
The Shiba Inu team confirmed on Monday that the Shibarium layer-2 network will begin burning SHIB tokens from January 2024. Read here to learn more details about how many SHIB tokens will be burned by Shibarium every year for a better and more in-depth understanding.
According to the latest blog, 70% of the transaction fees initiated on Shibarium will be used to burn SHIB tokens. The rest 30% of the funds will be used to maintain the network helping it to run smoothly and efficiently.
Shibarium will collect fees in the governance Bone token, which is used as gas to conduct transactions on the network. Bone tokens will then be converted into SHIB automatically after they reach a threshold of $25,000 in value. After the conversion is completed, Shibarium will burn SHIB tokens and permanently remove them from circulation.
However, now that Shibarium is confirmed to burn SHIB tokens, is there a possibility for Shiba Inu to reach $1? In this article, we will highlight how many years it could take for Shiba Inu to hit the $1 mark through burns from Shibarium.
Shiba Inu: How Long For SHIB To Reach $1?
If everything goes right and assume that Shibarium burns 3 trillion tokens every year, it would still not make SHIB reach $1 in our lifetime. The dynamics here come into play differently as the supply would remain plenty with demand being scarce.
For the context, Shiba Inu has 589 trillion tokens in circulation and hardly just 1.3 million holders. The adoption is not catching up with the circulation making its price either dip or remain constant.
In conclusion, even if Shibarium burns 3 trillion SHIB tokens every year, it would take 98 years for Shiba Inu to reach $1. That’s simply not possible in our lifetime. However, if Shibarium manages to burn more than 100 trillion tokens per year, only then could Shiba Inu have any chance of hitting $1 before our lifetime.
#Roarstock
#SHIBFuture #SHIBSurge
According to the latest blog, 70% of the transaction fees initiated on Shibarium will be used to burn SHIB tokens. The rest 30% of the funds will be used to maintain the network helping it to run smoothly and efficiently.
Shibarium will collect fees in the governance Bone token, which is used as gas to conduct transactions on the network. Bone tokens will then be converted into SHIB automatically after they reach a threshold of $25,000 in value. After the conversion is completed, Shibarium will burn SHIB tokens and permanently remove them from circulation.
However, now that Shibarium is confirmed to burn SHIB tokens, is there a possibility for Shiba Inu to reach $1? In this article, we will highlight how many years it could take for Shiba Inu to hit the $1 mark through burns from Shibarium.
Shiba Inu: How Long For SHIB To Reach $1?
If everything goes right and assume that Shibarium burns 3 trillion tokens every year, it would still not make SHIB reach $1 in our lifetime. The dynamics here come into play differently as the supply would remain plenty with demand being scarce.
For the context, Shiba Inu has 589 trillion tokens in circulation and hardly just 1.3 million holders. The adoption is not catching up with the circulation making its price either dip or remain constant.
In conclusion, even if Shibarium burns 3 trillion SHIB tokens every year, it would take 98 years for Shiba Inu to reach $1. That’s simply not possible in our lifetime. However, if Shibarium manages to burn more than 100 trillion tokens per year, only then could Shiba Inu have any chance of hitting $1 before our lifetime.
#Roarstock
#SHIBFuture #SHIBSurge
Shiba Inu (SHIB) Sees Over 1.3 Billion Tokens Burnt in November, What Does It Mean for Price?
Shibburn reports significant reduction in circulating supply of SHIB, igniting discussions about major price rally.
In a notable development for the Shiba Inu (SHIB) community, the popular Shibburn tracking site revealed that an impressive 1,368,684,064 SHIB tokens were burned during the month of November, encompassing 273 transactions. Despite this substantial burn, the monthly rate witnessed a 6.33% decline.
However, on Nov. 30, a remarkable milestone was reached as Shiba Inu experienced a staggering 1,000% surge in the burn rate, as reported by U.Today. This surge in token burning activity suggests a continuous reduction in SHIB's circulating supply, a key factor that often influences the overall value of a cryptocurrency. The current price of SHIB stands at $0.000008355, indicating a modest increase of 1.58% over the past 24 hours. While the token may not be experiencing a massive surge at the moment, there is a silver lining as SHIB has demonstrated resilience, posting an 8.56% increase in price over the last 30 days.
While the burning of over 1.3 billion SHIB tokens in November is a noteworthy accomplishment, the cryptocurrency market remains dynamic, and multiple variables can influence the price movements of tokens like Shiba Inu. As the crypto community eagerly watches for further developments, only time will tell what will be the next catalyst for a significant SHIB price surge.
#SHIBSurge #ShibaInuAI #SHIBFuture #shibaburn #ShibaInuUpdate
$SHIB
Shibburn reports significant reduction in circulating supply of SHIB, igniting discussions about major price rally.
In a notable development for the Shiba Inu (SHIB) community, the popular Shibburn tracking site revealed that an impressive 1,368,684,064 SHIB tokens were burned during the month of November, encompassing 273 transactions. Despite this substantial burn, the monthly rate witnessed a 6.33% decline.
However, on Nov. 30, a remarkable milestone was reached as Shiba Inu experienced a staggering 1,000% surge in the burn rate, as reported by U.Today. This surge in token burning activity suggests a continuous reduction in SHIB's circulating supply, a key factor that often influences the overall value of a cryptocurrency. The current price of SHIB stands at $0.000008355, indicating a modest increase of 1.58% over the past 24 hours. While the token may not be experiencing a massive surge at the moment, there is a silver lining as SHIB has demonstrated resilience, posting an 8.56% increase in price over the last 30 days.
While the burning of over 1.3 billion SHIB tokens in November is a noteworthy accomplishment, the cryptocurrency market remains dynamic, and multiple variables can influence the price movements of tokens like Shiba Inu. As the crypto community eagerly watches for further developments, only time will tell what will be the next catalyst for a significant SHIB price surge.
#SHIBSurge #ShibaInuAI #SHIBFuture #shibaburn #ShibaInuUpdate
$SHIB
SHIB Burning Crosses 1000% Supply, The Asset Reacts With Decreased Volatility. Perspective by U.Today
Shiba Inu (SHIB) has witnessed a significant milestone as the burn rate for the token has surged by an astonishing 1,000%, and the token's supply keeps on shrinking.
The price of SHIB indicates visible response to the burn. Despite the broader market's movements, SHIB has managed to carve its own path. Amidst decreased volatility, a slight uptick in the price showcases the impact of reducing the circulating supply. This is viewed positively by holders who anticipate that a decrease in supply with steady or increasing demand could lead to a price increase.
To be more specific, the price chart illustrates SHIB navigating through a consolidation phase, with a recent breach below a critical ascending trendline. This breach was quickly followed by a recapturing of the trendline, indicating that the burn news may have spurred investor confidence, leading to buying pressure that helped SHIB regain its footing above this technical support level.
The fact that SHIB's price has shown resilience and an immediate reaction to the burn event, even when Bitcoin's price is experiencing a consolidation phase, highlights the relative independence of meme tokens from Bitcoin's performance. However, investors should keep in mind that assets like Shiba Inu tend to follow bigger meme coins or altcoins like Ethereum, which in their turn are heavily affected by Bitcoin's movements.'
#SHIBFuture #SHIBSurge
$SHIB
Shiba Inu (SHIB) has witnessed a significant milestone as the burn rate for the token has surged by an astonishing 1,000%, and the token's supply keeps on shrinking.
The price of SHIB indicates visible response to the burn. Despite the broader market's movements, SHIB has managed to carve its own path. Amidst decreased volatility, a slight uptick in the price showcases the impact of reducing the circulating supply. This is viewed positively by holders who anticipate that a decrease in supply with steady or increasing demand could lead to a price increase.
To be more specific, the price chart illustrates SHIB navigating through a consolidation phase, with a recent breach below a critical ascending trendline. This breach was quickly followed by a recapturing of the trendline, indicating that the burn news may have spurred investor confidence, leading to buying pressure that helped SHIB regain its footing above this technical support level.
The fact that SHIB's price has shown resilience and an immediate reaction to the burn event, even when Bitcoin's price is experiencing a consolidation phase, highlights the relative independence of meme tokens from Bitcoin's performance. However, investors should keep in mind that assets like Shiba Inu tend to follow bigger meme coins or altcoins like Ethereum, which in their turn are heavily affected by Bitcoin's movements.'
#SHIBFuture #SHIBSurge
$SHIB
Shib burn rate in 24 hours
Will increase price in shib? It will impact little price pump not huge #SHIBSurge
$SHIB
Will increase price in shib? It will impact little price pump not huge #SHIBSurge
$SHIB
Enormous 4.25 Trillion Shiba Inu Token Withdrawal Accompanied by a 5175% Surge in Burn Activity
As of December 25, 2023, an unprecedented movement occurred within the Shiba Inu (SHIB) ecosystem, witnessing a withdrawal of 4.25 trillion SHIB tokens from various exchanges. This significant amount constitutes nearly 1% of the total SHIB value currently in circulation. Remarkably, during this period, the burn rates experienced an astronomical surge, reaching an increase of up to 5175% compared to their regular volumes.
Elevated Whale Activity in Shiba Inu The recent surge in whale activity over the past few days far surpassed their usual engagements. An approximate amount of 4.25 trillion SHIB, equivalent to $42.5 million, was mobilized.
It's worth highlighting that Shiba Inu has garnered favor among several Ethereum whales, prompting substantial movements of their funds between addresses. These transactions, crucially, necessitate on-chain recording and consequently incur gas fees. Notably, the tokens utilized for burns in Shiba Inu originate from these gas fees.
Consequently, large-scale transactions incur substantial gas fees, consequently leading to elevated burn rates.
Unprecedented Surge in Burn Activity by 5175% In the 24-hour window preceding this report, the SHIB burn rates skyrocketed. The graph displays a staggering surge, around 51.7 times higher than its previous values. The total tokens burned amounted to 54 million SHIB.
The two transactions, alone accounting for 25 million and 20 million SHIB tokens (a combined 45 million SHIB), were conducted from the following addresses:
0xc34b1afac96fbdb26d522a90bddfb730e1bb6e01e2ade0f201408b120ada1478 0xea63f95225250f7099c8cd145ebd89bed958d4d303fd48d5d6bf621e6d57f378
In the preceding weeks, specifically during the first and second week of December 2023, the Shibarium network observed a surge in total transactions, escalating from 60 million to 150 million.
Within the last 30 hours, over 47 substantial transactions were recorded. Below is a snapshot showcasing some recent transactions.
Ongoing Substantial Burn Transactions in Shiba Inu as of December 25, 2023
Continued Burn Activity by SHIB Team Results in the Burn of 33.6 Billion Lucy, Shiba Inu's marketing manager, disclosed via Twitter the extensive burn campaign that resulted in the incineration of $90,857 worth of SHIB tokens. To date, four burn schedules have effectively eradicated 33.6 billion SHIB tokens, amounting to $363,600.
Token Burns and Their Impact Token burns serve as a mechanism to decrease the circulating supply of cryptocurrencies. This reduction in circulation often leads to an increase in the value of the remaining tokens. This principle aligns with the law of demand and supply, where a decrease in supply, with demand held constant, drives up the price of an item.
Burnt tokens are transferred to dead addresses lacking keys, rendering these coins and tokens irretrievable.
In Shiba Inu's case, three burn addresses exist, with two being dead addresses and one functioning as a black hole address. The third address channels SHIB tokens directly to the Genesis block.
Note: The Genesis Block signifies the first block in any blockchain.
Potential for $1 Valuation in SHIB via Burn Transactions For Shiba Inu to reach $1, it would need to eliminate 99.99999% of its current supply, assuming constant prices. While this figure appears daunting, Shiba Inu's lead developer, Shytoshi Kusama, has expressed a long-term aspiration to remove 99.9% of the current supply from circulation.
Achieving this in the near term might seem improbable, but concrete actions could be anticipated in the longer run.
Disclaimer: Voice of Crypto aims to provide accurate and timely information, but it disclaims responsibility for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, and it's advisable to conduct thorough research and make informed financial decisions.
$SHIB
Elevated Whale Activity in Shiba Inu The recent surge in whale activity over the past few days far surpassed their usual engagements. An approximate amount of 4.25 trillion SHIB, equivalent to $42.5 million, was mobilized.
It's worth highlighting that Shiba Inu has garnered favor among several Ethereum whales, prompting substantial movements of their funds between addresses. These transactions, crucially, necessitate on-chain recording and consequently incur gas fees. Notably, the tokens utilized for burns in Shiba Inu originate from these gas fees.
Consequently, large-scale transactions incur substantial gas fees, consequently leading to elevated burn rates.
Unprecedented Surge in Burn Activity by 5175% In the 24-hour window preceding this report, the SHIB burn rates skyrocketed. The graph displays a staggering surge, around 51.7 times higher than its previous values. The total tokens burned amounted to 54 million SHIB.
The two transactions, alone accounting for 25 million and 20 million SHIB tokens (a combined 45 million SHIB), were conducted from the following addresses:
0xc34b1afac96fbdb26d522a90bddfb730e1bb6e01e2ade0f201408b120ada1478 0xea63f95225250f7099c8cd145ebd89bed958d4d303fd48d5d6bf621e6d57f378
In the preceding weeks, specifically during the first and second week of December 2023, the Shibarium network observed a surge in total transactions, escalating from 60 million to 150 million.
Within the last 30 hours, over 47 substantial transactions were recorded. Below is a snapshot showcasing some recent transactions.
Ongoing Substantial Burn Transactions in Shiba Inu as of December 25, 2023
Continued Burn Activity by SHIB Team Results in the Burn of 33.6 Billion Lucy, Shiba Inu's marketing manager, disclosed via Twitter the extensive burn campaign that resulted in the incineration of $90,857 worth of SHIB tokens. To date, four burn schedules have effectively eradicated 33.6 billion SHIB tokens, amounting to $363,600.
Token Burns and Their Impact Token burns serve as a mechanism to decrease the circulating supply of cryptocurrencies. This reduction in circulation often leads to an increase in the value of the remaining tokens. This principle aligns with the law of demand and supply, where a decrease in supply, with demand held constant, drives up the price of an item.
Burnt tokens are transferred to dead addresses lacking keys, rendering these coins and tokens irretrievable.
In Shiba Inu's case, three burn addresses exist, with two being dead addresses and one functioning as a black hole address. The third address channels SHIB tokens directly to the Genesis block.
Note: The Genesis Block signifies the first block in any blockchain.
Potential for $1 Valuation in SHIB via Burn Transactions For Shiba Inu to reach $1, it would need to eliminate 99.99999% of its current supply, assuming constant prices. While this figure appears daunting, Shiba Inu's lead developer, Shytoshi Kusama, has expressed a long-term aspiration to remove 99.9% of the current supply from circulation.
Achieving this in the near term might seem improbable, but concrete actions could be anticipated in the longer run.
Disclaimer: Voice of Crypto aims to provide accurate and timely information, but it disclaims responsibility for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, and it's advisable to conduct thorough research and make informed financial decisions.
$SHIB
"Shiba Inu Chief Architect's Major Announcement Looms on the Horizon"
Shiba Inu lead developer Shytoshi Kusama will soon be making a significant announcement that could be the game changer for SHIB.
Read more on: https://thecryptobasic.com/2023/12/11/shiba-inu-lead-developer-says-he-will-soon-make-a-game-changing-announcement/
#SHIBFuture #SHIBAStrong #SHIBSurge #cryptocurreny #CryptoNews🔒📰🚫
Read more on: https://thecryptobasic.com/2023/12/11/shiba-inu-lead-developer-says-he-will-soon-make-a-game-changing-announcement/
#SHIBFuture #SHIBAStrong #SHIBSurge #cryptocurreny #CryptoNews🔒📰🚫