Massive 76 Billion Shiba Inu Burned in 2023. What will be the future of Shiba in 2024.

Despite what appears to be a slow year for the Shiba Inu burn campaign, stats confirm the community burned over 76 billion tokens in 2023.

At Shiba Inu’s current price of $0.00001032, these tokens amount to $788,479.

Data from a chart presented by Shibburn suggests that December welcomed the most burns of 2023. This was due to the massive burns from Shibarium amid the impressive growth in transactions and fees.

January and February saw some of the lowest monthly burns. The Crypto Basic reported a single notable 17 million burn in January.

Burns picked up in March as Koyo Token emerged. The community saw the burn of over 602 million on March 13, 2023, with Koyo Token accounting for 591 million.

Koyo burned another 794 million tokens on March 28 amid a total of 814 million burns. On March 20, 2023, the community confirmed that Koyo had indeed burned 4.63 billion tokens since it jumped on the campaign.

May also saw a massive uptick in Shiba Inu burns. Nine days into May 2023, several projects incinerated 5.6 billion SHIB, with Blaze Token accounting for a massive 3.7 billion tokens.

Blaze burned 2 billion tokens at once on May 2. The project burned another 3 billion on May 15, bringing its cumulative burns to 6.7 billion tokens in two weeks.

Marswap, a Shibarium-based decentralized exchange, contributed to this uptick in August, burning 463 million tokens on August 12 to bring its cumulative burns to 3 billion SHIB.

As Shibarium recorded a surge in daily transactions and fees, the first-ever Shibarium burn came up on Dec. 5, involving 8.2 billion tokens.

For context, the 76.4 billion SHIB burned last year represents only 0.13% of Shiba Inu’s circulating supply of 581 trillion. If this pace continues, the community would only be able to burn 5.81 trillion, or 1% of the circulating supply, in the next 76 years.
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Mill$ions of SHIB Burned Amid Major Price Correction🔥

Close to 30 million SHIB burned to ashes:

The aforementioned data source shows that within the last 24 hours, joined efforts of the SHIB army have helped to transfer a total of 28,709,351 SHIB meme coins to an unspendable blockchain address and out of the circulation supply for good. This has been achieved thanks to six transactions targeted at SHIB burn wallets. The largest two of them carried 21,657,489 and 6,824,773 SHIB.

SHIB stages major price correction:

Over the past two days, the second most popular meme cryptocurrency Shiba Inu has printed a massive decline in price, losing a tremendous 19.20%. The fall recorded over the last 24 hours constituted 13.17% from that value. After a recent peak when SHIB burned two zeros and hit the $0.00003 level, it has by now rebounded to trade at $0.00002811.
The popular meme cryptocurrency has been following the major Bitcoin correction that began after the world’s pioneer crypto hit a new historic peak two days ago, reaching $73,750. By now, Bitcoin has plunged to the $68,321 price mark.largest

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Its Possible SHIB

HIT 1$ Or 0.1

Keep Your Eyes On SHIB

BUY And Hold For Long

I'll Soon Hit 0.1$
$SHIB

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🔥 Shiba Inu's Token Burn Skyrockets by Over 1600%! 🚀

In a surprising turn of events, Shiba Inu (SHIB) has witnessed an astounding 1628% surge in its token burn rate within the last 24 hours, as reported by the Shibburn platform. This spike in burning activity showcases a consistent upward trend, revealing the altcoin's relentless push through all resistance levels.

1. Shiba Inu's Token Burn Surge: Breaking Records!

The ongoing momentum in SHIB's token burn rate signals a remarkable breakthrough for the altcoin. The new week kicked off with increased burning activity, culminating in the removal of a staggering 88.75 million SHIB from circulation. Notably, three major wallet addresses played a pivotal role in this surge, with the wallet starting with 0xcf6… leading the charge by burning 52.39 million SHIB.

2. Impact on SHIB's Circulating Supply: A Significant Reduction!

The recent burns have effectively sent 88.75 million SHIB to dead wallet addresses, slashing the circulating supply. The total amount of SHIB burned now stands at an impressive 410.69 trillion, reducing the current circulating supply to 581.12 trillion.

📊 Market Observers Weigh In: Potential Price Surge Ahead!

Market observers are closely watching the Shiba Inu team's relentless focus on token burns as a potential catalyst for a substantial long-term price increase. Despite the recent surge in burning activity, SHIB's price has not seen a corresponding boost. However, the consistent burning of tokens remains a hopeful indicator for a future price rise.

💹 SHIB Price Update: Awaiting the Surge!

While Shiba Inu's price currently experiences a downward trend, and some metrics appear negative, investors remain optimistic. The support from continuous SHIB burns is expected to contribute to a price uptick, potentially removing a zero from the current value.

🚀 Stay Tuned for the SHIB Surge! Invest Wisely! 📈🔥

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Shiba Inu: Can SHIB Reach $0.01 in 2024?

To be honest and straight to the point, reaching $0.01 in 2024 is a herculean task. The world coming to an end next year might have more chances than Shiba Inu hitting the $0.01 milestone. Many factors come into play here as the dynamics to reach 1-Cent don’t play out as planned.

The first basic necessity for SHIB to move towards $0.01 is to start burning trillions of tokens. Though Shibarium will begin sending SHIB to the dead wallet in January 2024, the exact burn numbers remain unknown. Therefore, the chances of climbing above $0.01 remain narrow at the moment.

Additionally, SHIB has been stuck with only 1.3 million holders for six months straight. New and first-time investors entering the SHIB fold are becoming miniscule. Consequently, the adoption rate is dwindling making the token remain stagnant in price, adoption, and burns.

In conclusion, Shiba Inu reaching $0.01 in 2024 is nothing but wishful thinking. The odds don’t match up to the possibilities at the moment. Only a miracle of epic sorts could make SHIB reach the 1-Cent milestone next year in 2024.

At press time, Shiba Inu was trading at $0.00000975 and is down nearly 3% in the 24-hours day trade. SHIB is also down close to 89% from its all-time high of $0.00008616, which it reached in October 2021.
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The Shiba Inu (SHIB) burn rate skyrockets by over 260% in the last 24 hours, with 50,727,264 tokens incinerated, emphasizing the coin’s deflationary nature.

$SHIB #SHIBburn #Shibburning

https://blockchainreporter.net/shiba-inu-shib-burn-rate-skyrockets-over-260-as-price-fails-to-get-momentum/