{"id":258011,"date":"2022-09-16T22:00:06","date_gmt":"2022-09-16T16:30:06","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=258011"},"modified":"2022-09-16T19:37:33","modified_gmt":"2022-09-16T14:07:33","slug":"shiba-inus-overdependence-on-shibburn-has-led-shib-down-this-road","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/shiba-inus-overdependence-on-shibburn-has-led-shib-down-this-road\/","title":{"rendered":"Shiba Inu&#8217;s overdependence on Shibburn has led SHIB down this road"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Memecoin Shiba Inu [SHIB] recently registered a decline in its price. Though the developers are leaving no stone unturned to burn large amounts of tokens daily, their efforts are not reflecting on SHIB\u2019s chart.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Furthermore, Shibburn, just recently announced that they planned to launch a new iOS, Android, and Alexa skill for the Shibburn Radio application.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We just submitted the Alexa Skill for Shibburn Radio. In a few hours we will submit the station&#39;s app for iOS and Android for approval. The long-awaited app for Shibburn (main app) is also on it&#39;s way. Stay tuned! <a href=\"https:\/\/t.co\/4wMTUXhRgt\">pic.twitter.com\/4wMTUXhRgt<\/a><\/p>\n<p>&mdash; Shibburn (@shibburn) <a href=\"https:\/\/twitter.com\/shibburn\/status\/1570118803316514816?ref_src=twsrc%5Etfw\">September 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The app will further increase SHIB\u2019s burn rate, which has already spiked considerably over the last few weeks. Interestingly, SHIBBURN revealed that more than 1.36 million SHIB were burnt in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Will all these movements help the SHIB ecosystem and affect its price action in the coming days? <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In the past 24 hours, there have been a total of 136,821,030 <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SHIB<\/a> tokens burned and 11 transactions. Visit <a href=\"https:\/\/t.co\/t0eRMnyZel\">https:\/\/t.co\/t0eRMnyZel<\/a> to view the overall total of <a href=\"https:\/\/twitter.com\/hashtag\/SHIB?src=hash&amp;ref_src=twsrc%5Etfw\">#SHIB<\/a> tokens burned, circulating supply, and more. <a href=\"https:\/\/twitter.com\/hashtag\/shibarmy?src=hash&amp;ref_src=twsrc%5Etfw\">#shibarmy<\/a><\/p>\n<p>&mdash; Shibburn (@shibburn) <a href=\"https:\/\/twitter.com\/shibburn\/status\/1570623533251706882?ref_src=twsrc%5Etfw\">September 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><strong>The SHIB-burn effect<\/strong><\/h3>\n<p>As of last week, SHIB gained 3%, which can be considered as a satisfactory gain. However, at the time of writing, the alt was down by 6% in the last seven days. At press time, SHIB <span style=\"font-weight: 400;\">was trading at $0.00001175 with a market capitalization of $6,450,286,234.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0A major reason for this decline could be the after effects of the Merge, which pushed several altcoins\u2019 prices downward. But several other metrics were also to blame for SHIB\u2019s recent price decline. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For instance, the Market Value Realized Value (MVRV) Ratio went down along with the daily active addresses. These can be taken as bearish signals suggesting a further downtrend in the coming days.<\/span><\/p>\n<figure id=\"attachment_258014\" aria-describedby=\"caption-attachment-258014\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022.png\"><img decoding=\"async\" class=\"size-full wp-image-258014\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBA-INU-SHIB-11.33.28-16-Sep-2022-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-258014\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Moreover, according to CryptoQuant\u2019s<\/span><a href=\"https:\/\/cryptoquant.com\/asset\/shib\/summary\"> <span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\">, net deposits on exchanges were high compared to the seven-day average. This can be interpreted as higher selling pressure in the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nonetheless, a few metrics also indicated a trend reversal as SHIB\u2019s exchange reserve continued to fall. This could be taken as a sign of lower selling pressure. Moreover, SHIB\u2019s social volume also spiked considerably in the last week. This indicated increased interest from the crypto community in the memecoin. <\/span><\/p>\n<h3><strong>SHIBA at crossroads <\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">SHIB\u2019s daily chart revealed an ambiguous scenario as certain market indicators suggested a downtrend while others pointed out a possible trend reversal. The Exponential Moving Average (EMA) Ribbon registered a bearish crossover, which further increases the chances of a price decline soon. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Moving Average Convergence Divergence (MACD) also painted a similar picture as it showed a bearish edge in the market. However, the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) provided some relief as they moved slightly upward. <\/span><\/p>\n<figure id=\"attachment_258020\" aria-describedby=\"caption-attachment-258020\" style=\"width: 1814px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBUSDT_2022-09-16_11-39-57.png\"><img decoding=\"async\" class=\"size-full wp-image-258020\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBUSDT_2022-09-16_11-39-57.png\" alt=\"\" width=\"1814\" height=\"778\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBUSDT_2022-09-16_11-39-57.png 1814w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBUSDT_2022-09-16_11-39-57-300x129.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBUSDT_2022-09-16_11-39-57-1024x439.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBUSDT_2022-09-16_11-39-57-768x329.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/SHIBUSDT_2022-09-16_11-39-57-1536x659.png 1536w\" sizes=\"(max-width: 1814px) 100vw, 1814px\" \/><\/a><figcaption id=\"caption-attachment-258020\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Memecoin Shiba Inu [SHIB] recently registered a decline in its price. Though the developers are leaving no stone unturned to burn large amounts of tokens daily, their efforts are not reflecting on SHIB\u2019s chart. Furthermore, Shibburn, just recently announced that they planned to launch a new iOS, Android, and Alexa skill for the Shibburn Radio<a href=\"https:\/\/ambcrypto.com\/shiba-inus-overdependence-on-shibburn-has-led-shib-down-this-road\/\">Continue reading <span class=\"sr-only\">&#8220;Shiba Inu&#8217;s overdependence on Shibburn has led SHIB down this road&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":258026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-258011","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Shiba Inu&#039;s overdependence on Shibburn has led SHIB down this road - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Memecoin Shiba Inu [SHIB] recently registered a decline in its price. 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