Following a recent downturn in the crypto market, Shiba Inu (SHIB) has demonstrated a remarkable resurgence, signaling positive momentum for the popular meme coin. Key indicators and signals suggest a bullish outlook for SHIB, further boosting investor confidence.
Recent data from Shibburn indicates a staggering 131.21% surge in the burn rate of Shiba Inu within the past 24 hours. This surge resulted in the destruction of over 28.1 million SHIB tokens, leaving approximately 582.62 billion SHIB coins in circulation. The token burning mechanism plays a crucial role in the Shiba Inu ecosystem, not only reducing overall supply but also ensuring its resilience and robustness.
The Shiba Inu community actively supports and participates in token burning events, recognizing their significance in maintaining the ecosystem's health. Shibburn data reflects the community's dedication, with approximately 410.72 trillion Shiba Inu tokens burned to date.
This surge in token burning coincides with a significant price rebound for SHIB. Despite recent market volatility and liquidations, SHIB is now experiencing positive momentum. According to TradingView, SHIB is currently trading around $0.0000271, marking a 7.61% increase in the past 24 hours. Moreover, SHIB's market capitalization has surged by 7.70% to reach $15.97 billion, positioning it as the 11th largest cryptocurrency by market cap.
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Edmund1.5 trillion SHIB tokens moved in 24hrs, sparking trader interest. Notable transfers: $1.36M from private wallet, $2.65M from Coinbase 'hot wallet'. Exchanges involved. Price may see volatility spike.
Huang BoWhale Alert reports a massive transfer of one trillion SHIB tokens to Gate.io, sparking market speculation. SHIB experiences a 14.27% price drop amidst increased liquidations, leaving investors and analysts awaiting market response.
Xu LinShiba Inu (SHIB) surges on community-driven burning initiative, reducing token supply and boosting value. Market cap rises, caution advised due to RSI overbought status.
Xu LinAmid a Shiba Inu price dip, a whale accumulates 1.44 trillion $SHIB tokens, worth $13.36 million, within two days. This coincides with increased token burning and a strategic partnership. Despite challenges, some analysts remain optimistic about SHIB's future.
EdmundThe Shiba Inu team has escalated SHIB token burns, recently incinerating over 8 billion tokens, contributing to a total of over 33.8 billion burned in December.
EdmundShiba Inu's token burn rate leaps with .shib domain launch, hinting at future price potential.
AlexDelayed SHIB token burns lead to community frustration, with unclear future timelines and possible impact of external factors.
Huang BoSetelah rekor pembakaran lebih dari 8,3 miliar token, tingkat pembakaran Shiba Inu telah melonjak sebesar 7.686.774,46% yang belum pernah terjadi sebelumnya, bertepatan dengan kenaikan yang lebih luas di pasar mata uang kripto.
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