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Every development can influence investor sentiment, and the recent surge in Shiba Inu (SHIB) token burns has caught the attention of many. In just one week, over 300 million SHIB tokens have been removed from circulation, representing a staggering increase of over 1,000% compared to previous periods.
The Shibarium blockchain, from the team behind the popular meme-inspired cryptocurrency Shiba Inu (SHIB), is seeing unprecedented levels of activity over the past nine months, with all metrics spiking by literally hundreds and thousands of percent over the past few days.
Shiba Inu coin on Friday ignited a torrent of optimism across the broader crypto market by securing a landmark achievement. The meme coin's marketing lead, LUCIE, recently spotlighted a remarkable growth spurt for the layer 2 blockchain, Shibarium.
At Shiba Inu, things are progressing in the code, but the meme crypto continues to lag behind in the market.
Shiba Inu's (CRYPTO: SHIB) monthly gains of 18% is likely to witness a pump as burn rates and technical indicators point to the same. What Happened: Shiba Inu (CRYPTO: SHIB) saw its burn rate jump by 65,529.7% since burning 2.7 million SHIB in the past 24 hours, according to Shibburn data.
Shiba Inu (SHIB) price has shown resilience, navigating market volatility as the broader crypto landscape fluctuates. Over the past month, the SHIB price recorded a 17% increase, fueled by positive market indicators.
Shiba Inu's price correction continues, but the trend might not last as a bull pattern has appeared.
Despite a remarkable transaction volume of over three trillion SHIB in the last week, Shiba Inu does not appear to have received the boost it needs to return to its previous level of strength. According to on-chain data, there has been a weekly high of 209 large transactions, although the number has been fluctuating.
When Shibarium launched, it sparked major optimism among Shiba Inu ecosystem members and the broader Ethereum layer-2 ecosystem. However, since its launch, the network has recorded different growth traction amid varying adoption milestones.
According to the data provided by the Shibburn transaction tracker which monitors SHIB burn transfers, in the past day, the SHIB army has managed to push the burn rate of their favorite meme cryptocurrency to an impressive new high.
Shibarium has been making the headlines lately, with daily transactions back in the millions.
There is a much anticipation around SHIB's price action right now.
Major digital assets like Shiba Inu have shifted into bearish territory lately following a downswing in the general crypto market within the week. However, with several positive trends cited around its price, the dog-themed meme coin could be poised for a potential rebound in the coming days.
In a surprising twist, Shiba Inus burn rate dropped to zero over the past 24 hours. Following a major burn spike earlier in the week, the sudden halt has left the community speculating about the cause.
The Shiba Inu price chart is displaying a new key technical pattern which suggests that a price rally might be imminent. According to crypto analyst, Javon Marks, this technical pattern called a “Hidden Bull Divergence” indicates a potential 330% climb to new price highs.
The cryptocurrency market is seeing mixed signals as Ethereum (ETH) struggles to maintain its upward momentum, while Dogecoin (DOGE) and Shiba Inu (SHIB) experience notable price fluctuations. After a recent spike, the market is now calming down, leaving investors to wonder what lies ahead.
Cat-themed cryptocurrencies Popcat (CRYPTO: POPCAT) and cat in a dogs world (CRYPTO: MEW) have emerged as top gainers in the overall crypto market. What Happened: According to Coingecko, cat coins are nearing a $5 billion market cap, with a 7.7% gain in the last 24 hours.
As investors grapple with the cryptocurrency market's next moves amid recent turbulence driven by geopolitical and economic concerns, attention is shifting away from established top-cap coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA) toward the burgeoning appeal of meme coins.
Check out why XRP, SHIB, and other leading cryptocurrencies could head north soon.
The WoofSwap team, operating the decentralized exchange (DEX) on the Shibarium network, has unveiled a novel Shiba Inu token-burning mechanism through the introduction of a new token named FEED. TThe announcement was made via X, where WoofSwap detailed the intended impact of FEED.
Fiery competition between the blue-chip meme coins sends the meme section up 21%, defying broader market momentum.
The popular meme-inspired Shiba Inu (SHIB) cryptocurrency continues to make headlines, this time with a staggering more than fivefold increase in a key on-chain metric.
According to the market intelligence platform IntoTheBlock, Bitcoin (BTC), Dogecoin (DOGE), Shiba Inu (SHIB), and Ethereum (ETH) have emerged as the coins with the longest holding period. This is significant because it indicates that crypto investors have the most faith in these coins.
Per IntoTheBlock data, Dogecoin and Shiba Inu are among the longest HODLed coins in the market.
