Shiba Inu (SHIB) Burn Rate Suffers 87% Decline In Single Week

In recent weeks, the burn numbers of Shiba Inu tokens have not been particularly great, especially in the past seven days. This is despite the growing optimism amongst investors about the ecosystem's prospects.

Timeline of Shiba-inu

In a remarkable turn of events, the Shiba Inu token, SHIB, has witnessed a breathtaking surge in its price, leading to an astonishing number of tokens finally reaching their break-even point. Recent market data analyzed by IntoTheBlock reveals that over a trillion SHIB have regained their initial value as a direct consequence of the latest price action.

Introduction This report provides an analysis of the cryptocurrency Shiba Inu (SHIB) based on the latest data. The analysis includes a review of the current price, technical indicators, and moving averages. Price and Volume Overview As of 5:53 a.m. UTC on 18 June 2023, on Binance, the price of Shiba Inu (SHIB) is $0.

Shibburn wallet tracker has delivered the news that over the past seven days, the SHIB army has managed to destroy 85% fewer SHIB than a week before. The burn rate is deep in red both on a daily and weekly basis today.

An unknown crypto whale is suddenly moving more than three trillion Shiba Inu (SHIB) tokens as the altcoin market slumps. Blockchain-tracking service Whale Alert initially spotted the large Shiba Inu transaction. Whale Alert reveals that a deep-pocketed entity moved a total of 3,811,233,843,288 SHIB worth about $25.

Shiba Inu (SHIB), a cryptocurrency that has gained immense popularity and attention in recent months, is making waves once again as its price exhibits signs of recovery. This week, the SHIB price has displayed a promising uptick, maintaining a level above the $0.0000065 range.

Despite a slight rebound in price, shiba inu remained near its lowest level in 21 months during Friday's session. Overall, the global cryptocurrency market cap was marginally higher, climbing by 1% as of writing. XRP was an exception, dropping to a three-week low today.

According to the Shibburn wallet tracker that collects data on SHIB burns on Etherscan, within the last 24 hours, the Shiba Inu burn rate has plunged below zero after the amount of burned SHIB dropped around 60% compared to a much bigger burn conducted yesterday.

In an exciting development for the Shiba Inu community, the top developer working behind the scenes has unveiled another project before the launch of Shibarium. The lead developer introduced their newest innovation, ‘Shibacals,' bringing them one step closer to their ambitious vision.

Shiba Inu (SHIB) price has flashed some green signal this week as it hovered above the $0.0000065 range. Notably, on-chain data shows a positive uptrend in the social sentiment surrounding the Shiba Inu community.

Crypto data tracker WhaleAlert has reported a massive move of 3.8 trillion SHIB in recent hours. The large chunk of SHIB, worth over $25.5 million, was shifted between two unknown wallets.