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Shiba Inu Burn Rate Rises 1,088% in One Day, But It's Not Good The Shiba Inu burn rate has increased in the previous 24 hours, suggesting a SHIB burning trend shift. Although this surge is impressive, the quantity of coins burned is not promising. This report discusses the Shiba Inu burns from the past day and why the big jump in burn rate is not cause for celebration. Shibburn reports that SHIB burn rates are rising again. Due to a single transaction, the 24-hour burn rate increased 1,088% this time. Despite a decent burn rate improvement, meme coin is still struggling to reduce supply. The solitary burn transaction in a day carried 98,136 SHIB, causing the burn rate to soar. Only 98,136 SHIB tokens were burnt in one day. At the current Shiba Inu price of $0.00001373, just $1.34 worth of SHIB tokens were burnt last day. This transaction's significant jump has derailed the burn rate throughout the week, making it worse. The last burn transaction occurred three days ago. Still, just three transactions were made that day. Only 22 burn transactions were conducted for Shiba Inu throughout the week. These 22 burn transactions burnt 8.54 million SHIB tokens. At the current SHIB pricing, this burns less than $120 in tokens in seven days. It fell 94.4% from the previous week. With the Burn? Given the rapid burn rate earlier in the year, the Shiba Inu burn rate drop is worrying. Bitcoinist stated last week that the SHIB burn rate reduced 100% in one day, preventing fires. In August, the Shiba Inu team launched automatic SHIB burns on Shibarium, an Ethereum Layer 2 network, to maintain burn rate. This should be wonderful news, but the Shibarium network's performance has disappointed. It is the poorest Ethereum Layer 2 network, and automated burns have stopped due to no costs. In this context, the Shiba Inu community has taken another measure to decrease meme currency supplies. A petition was established to have Binance burn SHIB coins like LUNC tokens. The petition only has 1,383 signatures, thus Binance hasn't seen it. #SHIB $SHIB
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Over 30% of Dogecoin, Shiba Inu, Pepe holdings underwater On Thursday, Dogecoin and PEPE prices came down, but Shiba Inu rose. Between 30% and 70% of meme coin wallet addresses have unrealized losses. Shiba Inu's on-chain activity grows while Dogecoin and PEPE fall. Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE)—the top meme currencies by market capitalization—trade between minor gains and losses on Thursday, following the major crypto assets. DOGE and SHIB gained 3% to 4% in the last week, while PEPE lost 1.37%. On-chain data indicates Shiba Inu activity growing while Dogecoin and PEPE activity has reduced after August 16. SHIB on-chain activity surges, DOGE and PEPE lag. All three meme currencies peaked on August 16 according to Santiment's active addresses table. As seen in the chart below, Dogecoin and PEPE have performed worse than SHIB since then, slowing activity. PEPE dropped from 2,698 to 2,372 and DOGE from 55,295 to 38,911. After a minor increase on August 16, Shiba Inu active addresses had risen about 22%. Between 30% and 70% of wallet addresses holding the top three meme currencies have unrealized losses, according to IntoTheBlock's Global In/Out of the Money statistic. Traders seldom realize losses on their holdings, thus a sell-off is less likely if a big proportion of wallet addresses are underwater. Wallet addresses with unrealized losses may wait until their assets are lucrative before selling. DOGE wallets are 45% submerged, SHIB 72%. In contrast, just 31% of PEPE investors are losing. The analysis reveals that Shiba Inu has the biggest proportion of wallet holders with unrealized losses, making it less likely to sell off than the other two meme currencies. On Thursday, Shiba Inu trades at $0.00001414, up 0.14%, while Dogecoin and PEPE trade at $0.1057 and $0.00000791. #PEPE #DOGE #SHIB
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Is There Going to Be a New Rally in the FLOKI Price? The top-performing large-cap doge-themed currency over the last seven days is Floki ($FLOKI), a meme coin and soon-to-be trading bot named after Elon Musk's pet Shiba Inu. Over the last day, $FLOKI lost 3.8% of its value, trading at $0.0001235. With losses of 1.1% for Dogecoin ($DOGE), 0.7% for Shiba Inu ($SHIB), 3% for DogWifHat ($WIF), and 3.4% for Bonk ($BONK), these intraday losses are more severe than those of its competitors. Pepe ($PEPE), the largest meme currency that is not Doge, fell by 3.5 percent. On the other hand, Floki's price has done very little movement over the last week. Except for $DOGE and $SHIB, which fell 2% and 1%, respectively, the aforementioned coins all fell by little over 6% this week. According to these seven-day indicators, Floki is now outperforming Bitcoin ($BTC). With a 2.8% weekly loss, the leading digital asset—which often dictates market patterns for the remainder—is now trading at $59,441. The colored lines below represent the current price of $F$FLOKI kens relative to its support and resistance levels, respectively. The token is trading within a tight margin of these two levels. The token's price has dropped 64% since early June, when it hit a new all-time high of $0.0003449. Floki has been struggling to identify the subsequent leg above $0.000125 since the market meltdown on August 5th. Even while those anticipating a price reversal may have to wait a little longer, Floki's relative strength index (RSI) of 49 and falling suggests the cryptocurrency will maintain its strong performance throughout the weekend. All recognized cryptocurrencies will have a hard time attracting new investors due to the combination of a war-heavy news cycle, the possibility of more conservative fiscal policies from The Fed, and the prevalence of elections. #FLOKI #MtGoxRepayments #PowellAtJacksonHole $FLOKI
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Why Historical Data Suggests Bitcoin Could Rise 1,000% Bitcoin has gone through several bull and market cycles, with a steady tendency. Crypto analysts typically utilize the coin's prior performance to predict its future. This time, market analyst PlanB has cited past cycle results that bode well for Bitcoin. Bitcoin Could Grow 1,000% In a tweet on X (previously Twitter), crypto expert PlanB predicted a further Bitcoin bull run. The crypto expert draws this conclusion from past cycles and Bitcoin price performance. An first leg up precedes a pullback and then a greater run. The research compares the previous two bull cycles and their commonalities. The 2017 bull run saw Bitcoin rise 4x before pausing. The downturn seemed to terminate the bull market, but it was only a pause. The BTC price reached record highs after a 10x market boom. Next bull cycle, 2020–2021, Bitcoin price played a similar role. An initial 4x rise ceased in 2020. After a delay, it rose again. BTC has 7x increased at the end of the bull cycle. Since the current cycle is still following this tendency, PlanB expects it to play out similarly. The crypto researcher notes that Bitcoin has finished the first phase of this trend after gaining 4x since 2022. If this pattern continues, BTC might rise 700% to 1,000%. Even if the BTC price drops as it did during the previous two cycles, a continuation of the pattern would guarantee a 300%–400% growth. It would indicate Bitcoin will break $100,000. How High Would 1,000% Rally Be? PlanB predicted that if Bitcoin finished at the bottom of the range with a 700% rise, it would reach $400,000 before the end of the bull market. It would exceed $550,000 at 1,000%. #MtGoxRepayments #PowellAtJacksonHole #BTC $BTC
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What Does Shytoshi Kusama's Reveal About a Critical Token Mean for the Future of Shiba Inus and the SHIB Price? The anonymous head of the meme currency project, Shytoshi Kusama, disclosed on Tuesday on X that a pivotal token inside the web3 ecosystem is linked to the future of Shiba Inu ($SHIB). In this case, we're talking about ShibaSwap's native governance and utility token, $BONE. You may earn passive revenue with $BONE by staking or providing liquidity. At the core of the Shiba Inu ecosystem is the decentralized autonomous organization known as DoggyDAO, and $BONE holders have the opportunity to vote and participate in it. Those who own $BONE may also participate in Shiba Inu community activities. We have fully incorporated $BONE into our governance and technology, according to Shytoshi Kusama. The Shiba Inu community is pulling together from all around the world to make the meme currency a fully-fledged ecosystem of web3 decentralized applications. They are also progressing well. The Shiba Inu ecosystem's foundational layer, Shibarium, was introduced last year as an Ethereum layer-2 protocol. Plus, SHIB Soon, the Metaverse will be available to the public. The expansion of the Shiba Inu web3 ecosystem will primarily benefit SHIB, the cryptocurrency. Other coins, like as $BONE, that are essential to its decentralized governance are also crucial. How Will $BONE Affect the Value of Shiba Inus? Everyone knows that $BONE is a big deal in the SHIB ecosystem. No market reaction is therefore likely to result from Shytoshi Kasumu's remarks. However, in the long term, $BONE may affect the SHIB price. It is possible to use $BONE's performance as a measure of how widely used the Shiba Inu ecosystem is. When more people join the ecosystem and bid up the price of $BONE, for instance, this might also help $SHIB. That, however, does not seem to be happening very soon. After spiking in March, $BONE has been declining, and it just hit $0.40. Record lows below $0.30 may be on the horizon, #SHIB #BONE #Shibarium $SHIB
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