Shiba Inu Drops Below $0.00001 Milestone Amid $500 Million Crypto Market Crash! What's Next For SHIB's Price?

The crypto market recently experienced a significant liquidation of $500 million, triggered by a surge in the “sell the news” sentiment after Bitcoin faced challenges around the $45,000 mark. Consequently, Bitcoin's decline towards $40,000 led to a substantial sell-off in the altcoin sector, with meme coins not being an exception.

Timeline of Shiba-inu

In a startling turn of events, the Shiba Inu token (SHIB) has plunged to a new monthly low, shedding a staggering 22% in the past two hours. As a result, the SHIB price has stagnated at $0.0000094 per token, adding zero value amid a $500 million crypto market bloodbath.

Shiba Inu (SHIB) has started the year on an impressive footing concerning its burn rate, which has soared as high as 2,552.62% in the past 24 hours. Based on the burn rate, a total of 129,716,497 SHIB have now been sent to dead wallets with contributions from multiple wallets.

Shiba Inu, one of the most popular meme coins in the cryptocurrency realm, appears to have gained significant traction this week as the token recently embarked on a coin-burning venture. According to numerous reports by CoinGape Media over the past week, the token seems to have noted a colossal upswing in its burn rate, fueling

According to the data provided for the public by the Shibariumscan explorer, Shibarium has smashed a ground-breaking new milestone as it total number of transactions continues to increase.

Shibburn wallet tracker has spotted an extensive increase in the Shiba Inu burn rate metric after several hundred million SHIB meme coins have been transferred out of the circulating supply.

Shiba Inu, one of the most popular meme coins within the cryptocurrency space, marked significant advancements today as the token noted a colossal surge in its burn rate. Notably, the sudden spike in the meme coin's burn rate caught significant attention among crypto market enthusiasts as it emerged within the market amid a price dip

Shibarium, the Layer-2 blockchain linked to the widely recognized meme coin Shiba Inu, is making notable strides. Recent data indicates a significant uptick in user engagement, marked by a substantial increase in both transactions and wallet growth.

Interestingly, this transfer happened during a period of significant token burning in the Shiba Inu ecosystem. In just 24 hours earlier this month, over 8.6 billion tokens were burned.

According to the Shibburn wallet tracker that accumulates data from Etherscan, the Shiba Inu community has managed to achieve impressive progress in setting SHIB meme coins on fire, and thus, it has removed nearly 20 billion SHIB from the circulating supply.

The Shiba Inu burn initiative begins the week with a positive sentiment as the project has witnessed a significant increase in its token burn rate over the last 24 hours. Shiba Inu Burn Rate Sees Notable Uptick On Monday, December 25, over a 5,000% increase in the last 24 hours has been observed in the Shiba Inu burn rate.