Claim $500Shiba Inu Burn Rate Plummets; Is SHIB Allure Fading Away?
Shiba Inu Coin News: Shiba Inu (SHIB), the world’s second biggest meme crypto price is trading under increased selling pressure due to increased volatility in the global banking sector. Shiba Inu Price has dropped by a massive 17% over the past 60 days. This decline comes in when the SHIB team announced positive updates related to SHIB metaverse projects.
Also Read: Pepe Coin Gets Huobi Backing; PEPE Price To Skyrocket?
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…
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.
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.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitcoin Whale Doubles Down on BTC, ETH, SOL Short Positions, $243M at Stake
- IMF and El Salvador in Bitcoin Talks: Progress Made, Compliance Deadline Set
- Trump Media Invests $40M in Bitcoin as Incoming CFTC Chair Signals Crypto Clarity Act Push in January
- Aave DAO Saga Deepens as Alignment Proposal Moves to Snapshot; AAVE Price Down 7%
- Fed’s Stephen Miran Urges More Rate Cuts In 2026 To Avoid U.S. Recession
- Bitcoin Price Prediction As Michael Saylor Pauses BTC Purchase- Is A Fall to $74k Imminent?
- Aster launched Phase 5 Buyback Program Allocating 80% Fees. Will ASTER Price Rally?
- XRP Price Prediction: Rare Bullish Patterns Align With Powerful Catalysts
- Weekly Crypto Price Prediction: Bitcoin, Ethereum, and XRP as Market Momentum Builds
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
