Shiba Inu army burns 324.7 million SHIB 

A total of 324,735,210 Shiba Inu (SHIB) tokens were destroyed in the past 24 hours in just about 27 transactions. The idea of burning SHIB simply means the tokens are being taken from the circulation supply and locked in a dead wallet, which is supposed to create somewhat scarcity for the second-largest meme cryptocurrency.

Timeline of Shiba-inu

The number of Shiba Inu whale transactions have been increasing in the past 24hrs, despite the fact that the cryptocurrency market is being dragged into an extreme bearish trend this week. According to data from IntoTheBlock, the Shiba Inu whales transaction surged by 261% in terms of large transactions. These kind of large transaction surge …

Shiba Inu is criticized by a large part of market participants precisely because of its ‘meme-coin' nature and also because whales tend to dominate the SHIB market more often.  The dominance of whales makes SHIB more susceptible to dumps.

The data from CoinMarketCap suggest a spike in the meme coin holders, growing from 1,131,043 token holders on April 10 to 1,146,848 token holders as of May 10, an increase of 15,805 holders over a month. The increase in the overall number of SHIB holders may not immediately impact its price.

On Tuesday (May 10), a day on which $BTC is down almost 4% and $LUNA is down over 43%, the price of highly popular meme-inspired cryptocurrency Shiba Inu ($SHIB) is surging by nearly 6%. Here is what crypto payment processor said about the Shiba Inu project last December when it announced in a blog post that $SHIB fans

The number of holders and overall Interest in Shiba Inu (SHIB) has been soaring lately, despite the cryptocurrency market being dragged into a bearish trend this week, with all of the major assets falling. Data from Coinmarketcap showed that SHIB holders have increased over 1.39% over the past 30 days.

Today's Shiba Inu price analysis displays a bearish movement in the market, and the market moves towards a negative direction, declining the price of SHIB significantly. After that, however, the cost of SHIB experienced a flash crash and declined to $0.00002179, from $0.00002305; on April 29, 2022, SHIB/USD lost further momentum and obtained a massive decreasing movement.

Today the Dogecoin killer Shiba Inu price has dropped by more than 14% in just 24hrs during the broader cryptocurrency market crash. This year 2022, even the returns of SHIB were 50% below zero, marking one of the worst performances. At the time of reporting, Shiba Inu is changing hands at $0.00001524 with a fall …

On April 30th, the Shiba Inu(SHIB) price gave a bearish breakdown from a symmetrical triangle pattern. Following a week of retest phase, the sellers showed sufficient sustainability below the breached support trendline and extended the downfall.

Shiba Inu coin hits a seven-month low as the markets worsen and the rest of the cryptocurrencies freefall as well so let's read more today in our latest altcoin news. The price of the Shiba Inu coin hits seven-month low and dropped 8.9% overnight and trades at $0.00001723 according to the data from CoinMarketCap.

After failing to maintain the critical support level, Shiba Inu's native token crashed and is on a path to setting a new local low. Key Support level: $0.000017 Key Resistance level: $0.000020 The support at $0.000020 turned into solid resistance on Saturday and today's price action confirmed the breakdown with another daily red candle.