Massive amounts of Shiba Inu continue to vanish from the circulating supply due to the SHIB community’s collaborative efforts and the recent launch of the Shibarium testnet. This time, the quantity of SHIB burned in the last 24 hours equals the amount transferred to dead wallets in the previous week.

Shibburn reports that in the last 42 hours, 802,428,808 Shiba Inu had been removed from circulation in six transactions. This increased the burn rate by 2,080%. One of them involved a transfer of 794,858,822 SHIB to an “inferno” wallet.

Earlier last week, the SHIB community destroyed 834,804,461 SHIB in 82 transactions. These two add up to 1,642,854,789.

According to Shibburn, 410,391,857,902,711 Shiba Inu tokens have been destroyed, accounting for roughly half of the initial one-quadrillion supply. With the introduction of Shiba Inu in August 2020, its mysterious founder, Ryoshi, moved roughly half of the supply to Vitalik Buterin’s wallet.

Buterin burned most of this chunk and donated $1 billion in Shiba Inu to the Crypto Relief fund in India, which aids in the fight against the pandemic’s consequences. Following that, Buterin received $100 million in Shiba Inu from the contribution. Sandeep Nailwal, co-creator of Polygon, established the aforementioned fund.

He explained this partial “refund” to Buterin as a result of needing to follow Indian rules that place strict limits on programs that can collect donations from a single individual or organization. Buterin was then inspired to establish the “Balvi” fund. It works directly with initiatives that manufacture vaccinations, ventilators, and other such products and provides funds to these charity groups.

#ShibaINU #SHIB #azcoinnews #crypto2023 #ShibariumScan

This article was republished from azcoinnews.com

A recent development in the world of #cryptocurrency has caught the attention of many investors and enthusiasts alike. A whale, or a large investor, has accumulated a staggering 229 billion Shiba Inu tokens. This news has left many wondering what the future holds for this particular cryptocurrency.

#ShibaINU , a relatively new cryptocurrency, has gained popularity in recent months due to its association with the meme-inspired Dogecoin. However, the sudden accumulation of such a large number of tokens by a single investor has raised questions about the potential impact on the market.

Some speculate that this whale's actions could lead to a significant increase in the value of Shiba Inu, while others fear that it could lead to a market crash. Regardless of the outcome, this development highlights the volatility and unpredictability of the cryptocurrency market.

As investors and enthusiasts continue to monitor the situation, it remains to be seen what the future holds for Shiba Inu and the wider cryptocurrency market. One thing is for certain, however: the world of cryptocurrency is constantly evolving, and it is important to stay informed and vigilant in order to make informed investment decisions.

#coingabbar #crypto2023 #dyor

During the month of February, the Shiba Inu coin experienced a consolidation period, during which a descending triangle pattern emerged. The price plummeted all the way down to a 0.786 Fibonacci retracement level. 

#ShibaINU (SHIB) has experienced a significant drop of over 10.00%, leading to a test below the $0.00001000 support level. While there may be a potential for a corrective increase, it is important to note that any upward movement may be restricted above the $0.000012000 threshold. 

The price of SHIB has encountered a significant obstacle in its upward trajectory, as it failed to surpass the resistance zone of $0.000012000. This has led to a surge in selling interest, causing a decline below the crucial support zone of $0.000010800.

The value of SHIB has plummeted by over 10%, resulting in a sharp decline towards the $0.000010000 support level. In fact, the price even dipped below this critical support zone, creating a new monthly low of approximately $0.000009648. Currently, the price is consolidating its losses and hovering around the $0.000009950 level. It's worth noting that SHIB is now trading below $0.000010000 and the 21 hourly simple moving average.

According to #priceanalysis , On the upside, there is an immediate hurdle at the $0.000010200 level. The first major hurdle lies near $0.000010600, which, if broken, could potentially spark an upward surge in the price. If the token sustains above $0.000010600, the price could reach as high as $0.000011200. Further advances could then propel the price to the $0.000011800 barrier.

If SHIBA fails to break above the $0.000010200 barrier, it may continue to decline. On the downside, the major support level is at $0.000009600. If the price falls below $0.000009600, selling pressure could intensify, potentially pushing SHIBA towards the $0.000009200 support zone in the near term. In the aforementioned scenario, the price of Shiba may fall in the short future towards the $0.000008500-$0.000008000 support zone.

KEY LEVELS :

RESISTANCE LEVEL : $0.000010200-$0.000010600

SUPPORT LEVEL : $0.000009500-$0.000009200

#coingabbar

Disclaimer: #crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#ShibaINU coin price has been stagnant for more than two weeks, oscillating between two fixed levels of $0.0000116 and $0.00001020. During this period, the coin price has displayed a cluster of daily candles, highlighting the market's persistent uncertainty.

In February, the SHIB price trend shifted from a downtrend to a sideways movement due to market uncertainty. As a result, potential buyers should avoid trading in this region and wait for a price breakout to release the trapped momentum.

As per recent news, the SHIB price has been on a robust upward trend, surpassing the critical resistance level of $0.000011000. The Meme coin is currently trading above its 20, 50, 100, and 200-day moving averages, indicating a strong bullish sentiment in the market. This is an encouraging sign for investors, as the SHIB price may continue to soar in the near future.

Shiba Inu (SHIB) has recently seen a substantial increase of nearly 5.50%, resulting in a test of the $0.00001100 resistance level. Although there is potential for further upward momentum, it is crucial to note that if SHIB surpasses the $0.000011800 barrier, a sudden spike in price may occur towards $0.000015800.

The initial obstacle lies at the $0.000011800 level. Once we surpass this hurdle, our attention can shift towards the first major challenge, which is situated near $0.000012000. A successful breakthrough at this point could trigger a significant upward trend in the token's value. In fact, if the token can maintain its position above $0.000012500, we may witness a remarkable surge in price, reaching as high as $0.000013000. Such a development could potentially lead to further advancements, propelling the price towards the $0.000015800 barrier.

If SHIBA fails to surpass the $0.000011800 barrier, it may experience a continued decline. The major support level is currently at $0.000011000, and if the price falls below this level, selling pressure could intensify. This could potentially push SHIBA towards the $0.000010500 support zone in the near term. In such a scenario, the price of SHIBA may fall in the short future towards the $0.000010000-$0.000009800 support zone.

KEY LEVELS :

RESISTANCE LEVEL : $0.000011800-$0.000012500

SUPPORT LEVEL : $0.000011000-$0.000010000

Disclaimer: #crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#coingabbar #crypto2023 #SHIB