{"id":447308,"date":"2024-11-29T02:00:27","date_gmt":"2024-11-28T20:30:27","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=447308"},"modified":"2024-11-28T17:21:42","modified_gmt":"2024-11-28T11:51:42","slug":"shiba-inu-burn-rate-soars-5545-what-it-means-for-shib","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/shiba-inu-burn-rate-soars-5545-what-it-means-for-shib\/","title":{"rendered":"Shiba Inu burn rate soars 5545%! What it means for SHIB"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Shiba Inu&#8217;s burn rate exploded by 5545%, removing 61M tokens and potentially boosting long-term scarcity.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">61.33% of SHIB holders were in profit, supported by rising burns and new trading options on Binance.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">According to data from blockchain tracker Shibburn, the <\/span><a href=\"https:\/\/ambcrypto.com\/shiba-inu-shib-price-prediction-29\/\"><span style=\"font-weight: 400;\">Shiba Inu [SHIB]<\/span><\/a><span style=\"font-weight: 400;\"> burn rate has surged by 5545.73% in the past 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> A total of 61,468,595 SHIB tokens were permanently removed from circulation, with a large portion of the burn attributed to a single significant transaction.<\/span><\/p>\n<figure id=\"attachment_447312\" aria-describedby=\"caption-attachment-447312\" style=\"width: 330px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB.png\"><img decoding=\"async\" class=\"wp-image-447312 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB.png\" alt=\"\" width=\"330\" height=\"275\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB.png 330w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB-300x250.png 300w\" sizes=\"(max-width: 330px) 100vw, 330px\" \/><\/a><figcaption id=\"caption-attachment-447312\" class=\"wp-caption-text\">Source: Shibburn<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The SHIB burning mechanism is a community-driven effort to reduce the token\u2019s supply and increase its scarcity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following the burn event, the total market supply of SHIB stood at approximately 589.26 trillion tokens at press time, with the remaining supply supporting the token\u2019s market activities.<\/span><\/p>\n<h2><b>SHIB&#8217;s movement following the burn<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">SHIB was trading at <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/shiba-inu\"><span style=\"font-weight: 400;\">$0.00002526<\/span><\/a><span style=\"font-weight: 400;\"> as of press time, reflecting a 1.89% increase in the last 24 hours and a 4.80% rise over the past week. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the last 24 hours, SHIB traded between $0.00002453 and $0.00002639, highlighting its ongoing volatility.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the burn event and price surge, SHIB briefly attempted to break higher but retraced to its current range.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This price action suggests limited immediate impact from the burn on market dynamics, though long-term effects may depend on sustained token removal efforts.<\/span><\/p>\n<h2><b>Increased trading options on Binance<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Additionally, Binance recently <\/span><a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/notice-on-new-trading-pairs-and-trading-bots-services-on-binance-spot-2024-11-28-and-2024-11-29-87748909170b4c0bada2aeac2447aa70?hl=en\"><span style=\"font-weight: 400;\">expanded<\/span><\/a><span style=\"font-weight: 400;\"> its trading options for Shiba Inu. The platform introduced spot grid trading and spot DCA (dollar-cost averaging) for the SHIB\/USDC pair.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The enhanced trading options have positioned SHIB for increased activity and market participation. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This development, combined with the ongoing burn mechanism, could support gradual upward price movement if market conditions remain favorable.<\/span><\/p>\n<h2><b>Profitability among holders<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Data from IntoTheBlock <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/SHIB\/deep-dive?group=financials&amp;chart=all\"><span style=\"font-weight: 400;\">revealed<\/span><\/a><span style=\"font-weight: 400;\"> that 61.33% of SHIB addresses were profitable at the press time price of $0.000025. 28.71% were holding at a loss, and 9.97% were breaking even.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\">Shiba Inu&#8217;s [SHIB] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">These figures highlighted a strong concentration of profitability in the $0.000008-$0.000025 price range, suggesting solid support from long-term holders.<\/span><\/p>\n<figure id=\"attachment_447313\" aria-describedby=\"caption-attachment-447313\" style=\"width: 1091px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB-IntoTheBlock.png\"><img decoding=\"async\" class=\"wp-image-447313 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB-IntoTheBlock.png\" alt=\"\" width=\"1091\" height=\"370\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB-IntoTheBlock.png 1091w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB-IntoTheBlock-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB-IntoTheBlock-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/SHIB-IntoTheBlock-768x260.png 768w\" sizes=\"(max-width: 1091px) 100vw, 1091px\" \/><\/a><figcaption id=\"caption-attachment-447313\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This profitability data, coupled with the burn rate surge and new trading options, paints an optimistic picture for SHIB\u2019s community and its potential for sustained market activity.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHIB burn rate jumps 5545% overnight! Will rising burns and new Binance tools drive prices up?<\/p>\n","protected":false},"author":95,"featured_media":447341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,6388,4,20],"tags":[6427],"class_list":["post-447308","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-shiba-inu-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Shiba Inu burn rate soars 5545%! What it means for SHIB - AMBCrypto<\/title>\n<meta name=\"description\" content=\"SHIB burn rate spikes 5545%, removing 61M tokens. 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