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Shiba Inu (SHIB) Burns 7,912,388 Tokens as Burn Rate Shoots up 2,814%. Shiba Inu (SHIB) is on a very tight leash as the price continues to nosedive in consonance with the broader digital currency ecosystem. At the time of writing, Shiba Inu is down by 2.37% in 23 hours to $0.00002234, but this slump is buoyed by the 2,814% surge in the token's burn rate. Data from Shibburn pegs the actual Shiba Inu burnt at 7,912,388 SHIB, a figure that is a massive liftof from around 200,000 tokens incinerated earlier on Monday. At least three wallets featured prominently in the burn rate jump as they contributed more than 1 million SHIB each to the dead wallet. The biggest of the three wallets '0×608...9fe80' helped incinerate a total of 4,320,587 SHIB. Also wallets 'Oxc66...650ae' and '0×608...9fe80' added 1,538,128 SHIB and 1,031,814 SHIB respectively. More smaller SHIB contributions were also made to the burn address bringing the total number of Shiba Inu tokens burnt from initial circulation to 410,726,546,023,229 SHIBВ. Shiba Inu is currently at the mercy of the broader digital currency ecosystem. With the price of Bitcoin dropping below the $68,000 mark, both Shiba Inu and other tokens with a higher correlation to BTC have a relatively lower chance of printing a solo recovery. Besides the burn rate metric, Shiba Inu is now gradually faring better in its other core performance markers. At this time, the daily trading volume underscores the ongoing mild revival in its community with a surge of 33.35% in 24 hours to $624,883,442. Besides this the whale transaction has blown up, surging by 438% in what has seen a total of $172.5 million traded overnight. While Shiba Inu fundamentals remain bullish, the recovery in the short term might come down to its on-chain figures across the board. #TopCoinsJune2024

Shiba Inu (SHIB) Burns 7,912,388 Tokens as Burn Rate Shoots up 2,814%.

Shiba Inu (SHIB) is on a very tight leash as the price continues to nosedive in consonance with the broader digital currency ecosystem. At the time of writing, Shiba Inu is down by 2.37% in 23 hours to $0.00002234, but this slump is buoyed by the 2,814% surge in the token's burn rate.

Data from Shibburn pegs the actual Shiba Inu burnt at 7,912,388 SHIB, a figure that is a massive liftof from around 200,000 tokens incinerated earlier on Monday. At least three wallets featured prominently in the burn rate jump as they contributed more than 1 million SHIB each to the dead wallet.

The biggest of the three wallets '0×608...9fe80' helped incinerate a total of 4,320,587 SHIB. Also wallets 'Oxc66...650ae' and '0×608...9fe80' added 1,538,128 SHIB and 1,031,814 SHIB respectively. More smaller SHIB contributions were also made to the burn address bringing the total number of Shiba Inu tokens burnt from initial circulation to 410,726,546,023,229 SHIBВ.

Shiba Inu is currently at the mercy of the broader digital currency ecosystem. With the price of Bitcoin dropping below the $68,000 mark, both Shiba Inu and other tokens with a higher correlation to BTC have a relatively lower chance of printing a solo recovery.

Besides the burn rate metric, Shiba Inu is now gradually faring better in its other core performance markers. At this time, the daily trading volume underscores the ongoing mild revival in its community with a surge of 33.35% in 24 hours to $624,883,442.

Besides this the whale transaction has blown up, surging by 438% in what has seen a total of $172.5 million traded overnight. While Shiba Inu fundamentals remain bullish, the recovery in the short term might come down to its on-chain figures across the board.

#TopCoinsJune2024

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MicroStrategy Announces Big New Debt Offering to Increase Its Bitcoin (BTC) Bet. MicroStrategy business intelligence giant founded and run by Michael Saylor has announced yet another debt offering to raise funds by selling MSTR to investors. The goal is to raise a whopping $500 million. Knowing the company's strategy focused on Bitcoin, the community expects this half a billion US dollars to be spent on another massive BTC chunk soon. The press release confirms these expectations by stating outright that the proceeds from the sale of these notes will be used for buying additional Bitcoin. Another MicroStrategy's Bitcoin bet. The X post announcing the new fund raising round through selling convertible senior notes was published by Michael Saylor today. The press release stated that the company intends to offer $500 million convertible senior notes due 2032 in a private offering to institutional buyers under the Securities Act of 1933. The offering expects the purchases to make an option to buy these notes within two weeks, which will include the date on which these notes are first issued. Interest on those obligations will be paid on June 15 and December 15 each year. According to the press release, MicroStrategy may redeem all or any portion of these senior notes for cash. The document also confirms that the raised $500 million will be used for purchasing more Bitcoin and also for general corporate purposes. As of May 1, the company already owns 214,400 BTC evaluated at $7.538 billion. Another public company follows suit. In March this year, MicroStrategy already made a similar security offering to raise $525 million to buy additional Bitcoin with. earlier this week, news was spread about another public company beginning to stack Sats - a common expression within the crypto community meaning to buy and hodl BTC. Sat - from the Bitcoin creators name Satoshi - represents 0.00000001 Bitcoin. This company is DeFi Technologies. Following the example of MicroStrategy, it has made its first Bitcoin purchase, adding 110 BTC to its Bitcoin Treasury.
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Famous Billionaire Praises Solana (SOL) and Memecoins! A new post about memecoins came from Galaxy Digital CEO Michael Novogratz, known for his plan support for Bitcoin (BTC) and cryptocurrencies. Reiterating his support for memecoins from account X, Mike Novogratz described memecoins as the "cornerstone" of the cryptocurrency industry. "Love it or hate it, memecoins have become the cornerstone of the crypto economy. Some developers in the blockchain ecosystem believe that memecoins overshadow their serious work and damage the crypto's overall brand and image. However, due to their viral nature and relatability, memecoins have proliferated and achieved significant value in the broader crypto market. We estimate that the total market cap of memecoins today is more than $60 billion. " Solana (SOL) Based Memecoins! Stating that memecoins are one of the most powerful assets in today's market, the famous CEO argued that Solana will be the primary blockchain for memecoins in 2024. Novogratz noted that Solana's low-fee environment and transaction confirmation speed lower barriers and create a unique environment for users looking to create and trade memecoins. "Solana is clearly ahead in the number of memecoins. The top Solana memecoins by market cap averaged between $91 million and $109 million in on-chain transaction volume over the last 30 days. Bonk and WIF, the two largest Solana memecoins by market cap, averaged 59% of volume during this period." Finally, while Novogratz praised SOL- based memecoins, he stated that there are also more established memecoins in the market such as Dogecoin (DOGE) and Shiba Inu (SHIB).
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Shiba Inu (SHIB) Might Reverse in Next 3 Days: Here's Why. Shiba Inu is on the verge of hitting a crucial price threshold; the 200 EMA is expected to become the main support level for the asset in a bullish mode. However, the break below it will most certainly cause serious issues, pushing Shiba Inu into the void and potentially triggering the death cross. Currently exchanging at around $0.00002169, Shiba Inu has been attempting to keep up, with its placement above key support levels. The crucial level to keep an eye on is the black line that represents the 200-day Exponential Moving Average. A significant reversal may occur for SHIB if it can maintain its footing above this level. However, if this support is not maintained, further declines and a bearish trend could occur. Traders are keeping a close eye on indicators like the 50-day EMA and the 100-day EMA. The 50-day EMA is giving indications of uniting with the 200-day EMA. A death cross, a bearish technical pattern indicating potential future declines, could occur if these lines cross. However, there is always a chance for SHIB to bounce back from the 200-day EMA, preventing this negative situation. The sentiment of the market as a whole and the volume of trading are additional considerations. The decrease in trading volume proposes an absence of solid purchasing interest, which is fundamental at any reversal. The RSI at the lower part of the graph shows that SHIB is drawing closer to the oversold domain, which could demonstrate the potential for purchasing interest. A few potential causes could drive SHIB's price upwards. A price reversal could be caused by positive news or developments in the Shiba Inu ecosystem, as always, the market recovery or increased interest from institutional investors.
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Peter Brandt Reveals Key Strategy in Unstable Crypto Market: Details. Amid whipsaw trading action on the cryptocurrency and financial markets, veteran trader Peter Brandt has emerged with a nugget of wisdom for those looking to navigate the current volatility. Brandt, known for his deep insights and decades of experience trading, states a fundamental fact: making money in trading is relatively easy; the real challenge lies in keeping it. Brandt's insight stems from years of experience in various financial markets, including the cryptocurrency market. He highlighted that the key to long-term success in trading is not merely about generating profits but about preserving those gains. According to Brandt, the realization of this principle marked an important point of maturity in his trading career. The veteran trader pointed out that frequent drawdowns periods when various assets experience significant declines in value forced him to make the same profits repeatedly. This repetitive cycle of gaining and losing underscored the significance of capital preservation. For many traders, especially those new to the crypto market, these drawdowns can discourage and lead to a sense of chasing losses. However, the ability to manage these periods without letting them erase hard- earned profits is what separates successful traders from the rest. Brandt's tip serves as a reminder that trading is not just about the thrill of making profits but also about the discipline required to protect it. Brandt elucidates that after a profitable period, the priority should shift from aggressive trading to safeguarding the accumulated capital. This strategy is not about shying away from risk but managing it with increased caution. Bitcoin briefly rose above $70,000 in Wednesday's trading session after the Federal Reserve left interest rates unchanged and signaled that only one cut is expected before the end of the year. On Wednesday, the Fed maintained rates constant at 5.25%-5.50% and said it would decrease rates only once, later this year.
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