Shiba Inu Coin News: SHIB Burn Rate Skyrockets Over 250% In Past 24 Hours

According to latest news surrounding the Shiba Inu Coin (SHIB), the amount of SHIB burned in the past 1 hour has led to a massive decline in the token's circulating supply. Additionally, the total amount burned during the last 24 hours has surpassed the amount of tokens burned the day before.

Timeline of Shiba-inu

The past few days have seen a decline in the price of crypto assets such as Shiba Inu (SHIB), with inflation and other macroeconomic factors in play, as other cryptocurrencies registered gains. Related Reading: Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally?

Shiba Inu (SHIB) price today fell to $0.00000805, the lowest price recorded since June. The FUD in the crypto market and Shiba Inu whales continuously selling their SHIB holdings are the factors behind the recent drop in SHIB price.

An anonymous Shiba Inu (SHIB) whale is suddenly moving over a trillion SHIB in a single massive transaction. According to new data from whale-surveying platform Whale Alert, a deep-pocketed trader abruptly shifted a staggering 2.6 trillion tokens worth about $23 million at time of writing from one unknown crypto wallet to another.

Among the many new developments happening in the Shiba Inu ecosystem, the motorsport P2E racing game and its corresponding NFTs from the Shiba Racing Team have just been announced. Shiba Racing Team or SRT in shot, is a modern racing NFT initiative that draws inspiration from both Formula 1 racing sport and the Shiba Inu The post Breaking: Shiba Racing NFT Launch; All About SHIB Metaverse P2E Game appeared first on CoinGape.

The rate at which tokens of the meme-inspired cryptocurrency Shiba Inu ($SHIB) are being burned has surged by over 150% to reach 5.1 million SHIB in just 24 hours, at a time in which the number of users in the SHIBArmy has kept on growing.

Shiba Inu's [SHIB] weak market could give sellers leverage to push the price lower. At the time of publication, the meme coin was trading at $0.00000888, down 2% in the past 24 hours.

Shiba Inu (SHIB) price tumbled over 3% in the last 24 hours, with the current price trading at $0.000008894. On-chain data indicates a big whale dumped over 210 billion SHIB tokens, causing the price to fall over 3% in the last 24 hours.

Shiba Inu News: Shiba Inu (SHIB), the second largest meme cryptocurrency is trading under immense selling pressure due to increased volatility in the crypto market. However, the SHIB price might see a drop ahead as a crypto whale is seeking a price surge ahead for a possible dump.

Shiba Inu price has snapped out of a short-term bullish stint that saw it tag $0.00000935. The second-largest meme coin regained the ground after revisiting support established at $0.00000840.

Shiba Inu Coin News: Shiba Inu (SHIB), the second-largest meme cryptocurrency in the world has almost half of its supply remaining and is rapidly running out. Shiba Inu's market position should improve as a result of the supply of tokens steadily declining and becoming less readily available for purchase.