{"id":328627,"date":"2023-07-19T10:00:11","date_gmt":"2023-07-19T04:30:11","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=328627"},"modified":"2023-07-19T22:16:35","modified_gmt":"2023-07-19T16:46:35","slug":"heres-why-shiba-inus-surging-burn-rate-has-sparked-concern","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/heres-why-shiba-inus-surging-burn-rate-has-sparked-concern\/","title":{"rendered":"Why Shiba Inu&#8217;s surging burn rate has sparked concerns"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">SHIB&#8217;s burn rate spiked to over 7,000% on 17 July.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">SHIB&#8217;s price was on a three-day consecutive downtrend as it lost over 1%.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">According to a tracking site, the burn rate of Shiba Inu [SHIB] has been on a downward trend of late.\u00a0 Nevertheless, within the last 24 hours, there was a remarkable surge in the burn rate, raising concerns about the impact on other metrics.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"http:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" target=\"_blank\" rel=\"noopener\">Shiba Inu&#8217;s [SHIB] Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<h4><b>Shiba Inu burn rate spikes<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">On 17 July, Shiburn revealed that <a href=\"http:\/\/ambcrypto.com\/shiba-inu-hits-familiar-hurdle-risks-a-correction\/\" target=\"_blank\" rel=\"noopener\">Shiba Inu<\/a> experienced a staggering burn of over 91 million tokens.\u00a0 This impressive volume translated to an extraordinary burn rate of over 7,000% within the last 24 hours.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">HOURLY SHIB UPDATE<a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SHIB<\/a> Price: $0.00000785 (1hr -0.35% \u25bc | 24hr -2.37% \u25bc )<br \/>\nMarket Cap: $4,613,494,254 (-2.59% \u25bc)<br \/>\nTotal Supply: 589,348,488,567,083<\/p>\n<p>TOKENS BURNT<br \/>\nPast 24Hrs: 91,668,357 (7329.72% \u25b2)<br \/>\nPast 7 Days: 256,556,227 (-78.28% \u25bc)<\/p>\n<p>\u2014 Shibburn (@shibburn) <a href=\"https:\/\/twitter.com\/shibburn\/status\/1680970667997396997?ref_src=twsrc%5Etfw\">July 17, 2023<\/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;\">This occurrence stood out because the burn rate had consistently shown negative values in the days leading up to 16 and 17 July.\u00a0 As of this writing, the <a href=\"https:\/\/twitter.com\/shibburn\/status\/1681272658732646400\" target=\"_blank\" rel=\"noopener\">burn rate<\/a> has returned to negative territory, with approximately 22 million tokens burned.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the weekly burn rate remained negative, with around 208 million tokens burned over the past seven days.<\/span><\/p>\n<h4><b>Impact on other metrics?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">In light of the surge in the burn rate, an examination of the volume metric, as provided by Santiment, was conducted to gain insights into Shiba Inu&#8217;s transactions.\u00a0 Upon analyzing the volume metric, it became evident that there was no noteworthy spike in <a href=\"http:\/\/ambcrypto.com\/shiba-inu-whale-reactivates-after-almost-two-years-will-shib-react\/\" target=\"_blank\" rel=\"noopener\">SHIB&#8217;s<\/a> volume.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The only spike observed was between 13 July and 16 July, when several other altcoins experienced an increase in their trading activities.\u00a0 The volume spiked to over 200 million and 100 million during these periods, respectively.\u00a0<\/span><\/p>\n<figure id=\"attachment_328633\" aria-describedby=\"caption-attachment-328633\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023.png\"><img decoding=\"async\" class=\"wp-image-328633 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023.png\" alt=\"Shiba Inu volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBA-INU-SHIB-13.01.56-18-Jul-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-328633\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, at the time of writing, the volume stood at approximately 87 million, suggesting a lack of significant trading activity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Interestingly, a notable event occurred a few days ago involving a substantial transaction by a major player in the market.\u00a0 Whale Alert, a blockchain-tracking service, reported that a high-net-worth investor transferred over 4 trillion SHIB tokens, equivalent to $32.86 million, on 14 July.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">? ? 4,113,777,233,445 <a href=\"https:\/\/twitter.com\/hashtag\/SHIB?src=hash&amp;ref_src=twsrc%5Etfw\">#SHIB<\/a> (32,862,223 USD) transferred from unknown wallet to unknown wallet<a href=\"https:\/\/t.co\/Xu48bD6mLn\">https:\/\/t.co\/Xu48bD6mLn<\/a><\/p>\n<p>\u2014 Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1679822711588114433?ref_src=twsrc%5Etfw\">July 14, 2023<\/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;\"> This significant movement involved transferring the tokens from one undisclosed wallet to another, adding an air of mystery to the transaction.<\/span><\/p>\n<h4><b>SHIB trend weakens<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Analyzing the daily timeframe chart of <a href=\"http:\/\/ambcrypto.com\/chatgpt-shiba-inu-price-prediction-17\/\" target=\"_blank\" rel=\"noopener\">Shiba Inu<\/a>, it became evident that the asset had experienced losses throughout the last three trading sessions.\u00a0 Shiba Inu was trading with a loss of over 1% as of this writing.\u00a0<\/span><\/p>\n<figure id=\"attachment_328634\" aria-describedby=\"caption-attachment-328634\" style=\"width: 1400px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBUSD_2023-07-18_12-41-47.png\"><img decoding=\"async\" class=\"wp-image-328634 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBUSD_2023-07-18_12-41-47.png\" alt=\"SHIB\/USD price trend\" width=\"1400\" height=\"764\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBUSD_2023-07-18_12-41-47.png 1400w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBUSD_2023-07-18_12-41-47-300x164.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBUSD_2023-07-18_12-41-47-1024x559.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/SHIBUSD_2023-07-18_12-41-47-768x419.png 768w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/a><figcaption id=\"caption-attachment-328634\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 SHIBs worth today?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Additionally, the Moving Average Convergence Divergence (MACD) indicator indicated a weakening trend.\u00a0 The Relative Strength Index (RSI) further confirmed the negative trend of <a href=\"http:\/\/ambcrypto.com\/shiba-inu-whale-reactivates-after-almost-two-years-will-shib-react\/\" target=\"_blank\" rel=\"noopener\">SHIB<\/a>, with the RSI line declining and hovering around the neutral line.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the price continues to decline, it could transition into a bearish trend, signaling further downward movement.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu&#8217;s burn rate skyrockets, whales make mysterious moves, while other metrics remain stagnant, signaling a potentially bearish trend ahead.<\/p>\n","protected":false},"author":76,"featured_media":328638,"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-328627","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 v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Shiba Inu&#039;s surging burn rate has sparked concerns - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Shiba Inu recently witnessed a massive spike in burn rate, but the lack of spikes in other metrics made determining the reason difficult.\" \/>\n<meta name=\"robots\" content=\"index, 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