Shiba Inu Coin Burn Rate Plummets; Is SHIB Allure Fading Away?

Also Read: Pepe Coin Gets Huobi Backing; PEPE Price To Skyrocket?

advertisement

Drop In Shiba Inu Burn Rate A Major Concern?

Data depicts that Shiba Inu price has been stagnant over the last 60 days. SHIB has failed to breach the $0.00001183 price level since March 3, 2023. The ongoing price decline has left the SHIBArmy disappointed. This directly reflects in plummeting burn rate.

According to the tracker, Shiba Inu burn rate has dropped by 70% in the last 24 hours. Only One million SHIB has been to a dead wallet in a single transaction. However, the tracker reported just 2.56 million SHIB being burnt on April 29, 2023. While Zero Shiba Inu coin burn was reported on April 27, 2023. Read More Shiba Inu News Here…

Source: Shibburn

The cumulative decline in Shiba inu Coin burn rate mirrors the enthusiasm among the SHIB holders regarding its much anticipated metaverse project. Shiba Inu is trading at an average price of $0.000010, at the press time. Its 24 hour trading volume is down by 20% to stand at $65.5 million. However, it is important to note that SHIB price is up by over 26% on Year to Date (YTD) basis.

Trending Stories
Shiba Inu
SHIB Price Prediction: Rise in Demand Pressure Sets Shiba Inu Price for 15% Rally
24/7 Cryptocurrency News
Aptos Price Prediction: Bullish Pattern Setup Prepares APT for 52% Rally; Enter Today?
24/7 Cryptocurrency News
Cryptocurrencies
Is Crypto Market Back on Recovery Track? Top 3 Cryptocurrencies To Invest In May 2023
24/7 Cryptocurrency News
ETH Price Prediction
ETH Price Prediction: Ethereum Price Eyeing $2000 Milestone Amidst Recovering Week; Enter Today?
24/7 Cryptocurrency News
SOL Price Prediction: Solana Price is Poised for 15% Growth as Buyers Break this Key Barrier
24/7 Cryptocurrency News

Also Read: Bitcoin Poised To Hit $1 Million; Arthur Hayes Drops This Signal

At the same time, Ethereum Whales seems to be confident in holding the Shiba Inu coin amid the price drop. As per the data, the biggest 100 ETH whale wallets are holding around $601 million worth of SHIB. It is the Biggest token position by dollar value by the top 100 Ethereum whales. It makes almost 12% of these wallets’ total holdings.

Comments

Post a Comment

Popular posts from this blog

Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs

Image
“It’s reckless not to aggressively accumulate BTC at current levels,” K33 senior analyst Velte Lund said in a recent report. The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market , claim analysts from crypto research firm K33 — formerly Arcane Research.  In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had greatly improved the chances of a spot Bitcoin ETF approval despite the sentiment not being reflected in the price of Bitcoin or other mainstay crypto assets. The analysts explained while Bitcoin had all but given up its gains in the wake of Grayscale’s legal victory over the Securities and Exchange Commission — an approval would “attract enormous inflows” and significantly increase buying pressure for Bitcoin. Bitcoin returned its gains in the wake of Grayscale's victory. Source: K33 Research However, the downside of ...
Read more

Crypto Bias Blocks People from Seeing Coinbase as Goldman 2.0: Bitwise CEO

In a recent tweet, Hunter Horsley, CEO of Bitwise Asset Management, shared his frustration with the poor attention given to the US-based crypto, Coinbase, claiming that people are “sleeping” on the crypto business. Horsley argued that while big banks like Goldman Sachs attempt to avoid a “slow death” by investing in technology, APIs, and retail services, Coinbase has already achieved what many banks strive to attain. He points out that the exchange has an exceptional institutional team with 25% of the most significant hedge funds as clients, over 50% institutional volume, and a suite of first-class tech products. The Bitwise CEO also claimed that Coinbase co-invented the USDC payment rail, facilitating $2 trillion in transfers in 2022 Q4 alone. Rant — People are sleeping on Coinbase. Big banks like GS are working to avoid slow death by getting into technology, APIs (Apple deal), more retail services (Marcus), while grappling with the heft of legacy biz, rate exposure, ...
Read more

Komodo (KMD) Price Prediction 2023-2030: Will KMD Price Hit $ 0.7 Soon?

Image
Bullish Komodo (KMD) price prediction ranges from $0.4 to $0.7 Analysis suggests that the KMD price might reach above $0.68. The KMD bearish market price prediction for 2023 is $0.1775. What is Komodo (KMD)? Komodo is an open-source technology provider that provides the infrastructure and tools for the new decentralized financial system. With Komodo, anyone has the capability of launching a branded decentralized exchange, cross-protocol financial applications, and independent blockchains.   The project’s flagship end-user application is Komodo Wallet (formerly AtomicDEX). It is a non-custodial multi-coin wallet, crypto bridge, and DEX rolled into one app. Being compatible with 99% of cryptocurrencies, Komodo Wallet offers the widest cross-chain, cross-protocol trading support of any decentralized exchange. Komodo Wallet’s DEX feature is built using a peer-to-peer (P2P) atomic swap protocol with decentralized order books. Developers use ...
Read more