As a seasoned cryptocurrency analyst with over a decade of experience in the industry, I find the recent surge in Shiba Inu (SHIB) burn rate to be an intriguing development. The data shared by Shibburn, a leading tracking platform for SHIB, reveals a significant 685% increase in weekly SHIB burns, driven primarily by community-led activities.
New data from Shibburn, a monitoring tool for Shiba Inu (SHIB), indicates a striking 685% rise in the destruction of SHIB tokens over the last seven days. Although daily statistics have taken a dive, burn events initiated by the community have intensified considerably, resulting in the disposal of approximately 399.59 million SHIB coins to non-retrievable wallets.
Shiburn’s most recent announcement reveals a significant increase in SHIB being burned, with the weekly sum surging more than 685%. This surge underscores active participation from SHIB investors, who are instrumental in reducing the circulating supply of this popular meme token.
As a researcher studying the Shiba Inu cryptocurrency market, I’d present the following hourly update in an engaging and clear manner:
— Shibburn (@shibburn) June 15, 2024
Over the past week, the SHIB community has destroyed 399,586,110 coins from their circulation, as indicated by Shibburn’s X handle update. This development is viewed favorably by investors and supporters, suggesting it could boost SHIB’s worth in the long run.
Instead of the regular weekly uptick, the daily rate of consumption for SHIB has seen a significant 63% reduction, resulting in 39,878,482 coins being transferred to non-operational blockchain addresses. This decrease in daily expenditures does not seem to dampen the positive outlook within the SHIB community, as they anticipate a possible price recovery for the meme token. At present, SHIB is priced at $0.00002066, marking a 2.10% upward trend over the past 24 hours.
As a crypto investor, I’m excited about the recent analysis from crypto expert and market analyst Ali Martinez. In his latest findings, Martinez points to a buy signal on the TD Sequential indicator for SHIB. Based on this indication, SHIB, currently priced at $0.00002076, could potentially surge up to around $0.00002800 – an approximate 35% increase from its current value.
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2024-06-16 05:24