Shiba Inu Army Cheers As Burn Rate Soars 172%, Price Rebounds

Bibhu Pattnaik

April 20, 2024

Dogecoin killer Shiba Inu (CRYPTO: SHIB) has experienced a significant surge in its burn rate, increasing by an impressive 172%.

The surge coincides with a notable rebound in SHIB's market price, marking a promising turn for the dog-themed digital currency.

According to a post by Shibburn on X on Friday, the accelerated burn rate removed 5,221,667 SHIB tokens from circulation, effectively sending them to a "dead" wallet where they can no longer be traded or accessed.

In the past 24 hours, there have been a total of 5,221,667 $SHIB tokens burned and 6 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/cAIOBDOiAC

— Shibburn (@shibburn) April 19, 2024

This development follows a period of lackluster performance for SHIB, with its price struggling under broader market pressures.

However, the token has managed to recover, climbing from a low of $0.00001837 on April 13 to fluctuating within a range between $0.0000205 and $0.00002386.

Also Read: Amid Dogecoin Crash, 374 Million DOGE Moved From Robinhood To Unknown Wallet

At the time of writing, SHIB was trading at $0.00002317, up by 3% in the last 24 hours.

The Shiba Inu community is currently buzzing with excitement and anticipation as developers continue to introduce upgrades aimed at enhancing the Shiba Inu ecosystem.

Notably, the Shiba Inu layer 2 solution, Shibarium, has received a user interface update and expanded its wallet compatibility to include MetaMask, Coinbase Wallet, Rainbow, Trust Wallet and Wallet Connect, facilitating various user connection preferences.

Shibarium's website has also migrated to the shib.io domain, reflecting the team's commitment to prioritizing user experience and development speed.

Now Read: Forget Dogecoin And Shiba Inu — This Meme Coin Has Surged Nearly 70% In Just 24 Hours

Photo: Shutterstock

Recommended

Buy This A.I. Stock Before Elon's "A.I. Day" on May 16 - Ad

Jeff Bezos' Next Trillion Dollar Bet (shocking) - Ad

Bitcoin Gained 164% in 2023 but Crypto Millionaire Abandoned It for This - Ad

CHARLOTTE, N.C. (AP) — Saing Chhoeun was locked out of his Charlotte, North Carolina, home on Monday as law enforcement with high-powered rifles descended into his yard and garage, using a car as a shield as they were from the direction of his neighbor's house.

Donald Trump Could Still Win Even If He Loses In Supreme Court Over Presidential Immunity Claim

Former President Donald Trump could see a strategic victory in his Supreme Court case, even if the court dismisses his claim regarding presidential immunity.

Breaking News: Elon Musk Invents New Type of A.I.

Breaking News: Elon Musk Invents New Type of A.I. - Ad

According to 30-year Silicon Valley and Wall Street veteran, Eric Fry... A man who picked 41 plays that jumped 1,000%+... Elon Musk is about to shock the world again with this new type of A.I.... Mining new millionaires in the process.

North Korea is buying Chinese surveillance cameras in a push to tighten control, report says

SEOUL, South Korea (AP) — North Korea is putting surveillance cameras in schools and workplaces and collecting fingerprints, photographs and other biometric information from its citizens in a technology-driven push to monitor its population even more closely, a report said Tuesday.

Trump vs. Biden: Nationwide Poll Shows Key Issue Decidedly Tilts Equation In Favor Of One Candidate

Even though the economy has been relatively stable despite challenges, voters remain unconvinced about the Biden administration's performance.

"America's No. 1 Retirement Stock" (Name Inside)

"America's No. 1 Retirement Stock" (Name Inside) - Ad

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Jim Cramer Explains What Could Trigger Further Market Decline: 'If You Want To Get Out, Go Ahead ...'

CNBC host Jim Cramer has outlined potential factors that could lead to further market decline, advising investors to be cautious about their buying and selling decisions.

Atlantic City mayor: I'm committed to my family and city while dealing with daughter abuse charges

ATLANTIC CITY, N.J. (AP) — Atlantic City Mayor Marty Small said Thursday he remains committed to his family and to his city as he deals with charges that he and his wife

Jeff Bezos Just Humiliated Elon Musk

Jeff Bezos Just Humiliated Elon Musk - Ad

Wall Street legend has just uncovered one tiny Maryland company that could become the next Nvidia. Few in the media are talking about this story yet...but in the next 6 months that's all they'll talk about.

This Man, Who Never Went To University, Is Making $1.2M-A-Year At Deloitte At The Age Of 30

Ben Newton, a former apprentice at Deloitte, has achieved the feat of becoming a partner at the age of 30, earning $1.2 million a year.

Missouri's $2B Marijuana Market Hits Record Sales In March, Eyes Future Growth With Microbusiness Licenses

The Missouri cannabis market set a new monthly sales record in March, reaching nearly $125 million. According to the latest data from the Missouri Department of Health and Senior Services (DHSS), the adult-use cannabis sector contributed $108.7 million in March, with medical cannabis adding another $16 million, culminating in a total of $124.7 million.

America Just Hit a Grim Milestone

America Just Hit a Grim Milestone - Ad

Nearly half of U.S. households currently hold no retirement savings. Retirement expert Dr. David Eifrig says what happens next will separate a small number of winners from a very large number of losers. Learn how to protect yourself and your money with his four simple steps that he shares right here.

Elizabeth Warren Says Trump Had Only 2 Accomplishments As President: 'Huge Difference Between' Biden, Trump

Elizabeth Warren thinks Donald Trump only accomplished two things when he was president and neither is highlighted as a positive by the senator.

Alcoa Well-Positioned To Benefit From Positive Pricing Momentum, Analyst Says

Alcoa receives price target increase from analysts after beating earnings estimates. Alumina production and shipments expected to rise in FY24.

The No. 1 Crypto for 2024

The No. 1 Crypto for 2024 - Ad

We're entering the final crypto bull run, and 2024 will be your last chance to ever get rich from crypto. These five tiny cryptos are believed to create generational wealth over the next 12 months. $30 trillion is poised to funnel into the crypto markets thanks to a new government regulation just signed.

Insiders Buying Ashford And 1 Other Stock

Although U.S. stocks closed mixed on Tuesday, there were a few notable insider trades.

Why Media Company Omnicom Shares Are Trading Higher Premarket Today

Omnicom Group reported 5.4% revenue growth, with organic growth of 4.0%. Adjusted EPS beat expectations.

Why James Altucher SOLD All His Bitcoin

Why James Altucher SOLD All His Bitcoin - Ad

Crypto genius James Altucher has been praising Bitcoin since it was trading for $61. But now he's buying another coin like crazy... and it's not Bitcoin!

Tens of thousands of Colombians protest against the leftist president's reform agenda

BOGOTA, Colombia (AP) — Thousands of Colombians took to the streets Sunday in the latest rebuke of leftist President Gustavo Petro's reform agenda.

First major attempts to regulate AI face headwinds from all sides

DENVER (AP) — Artificial intelligence is helping decide which Americans get the job interview, the apartment, even medical care, but the to reign in bias in AI decision making are facing headwinds from every direction.

This Is Where the World's Richest Men Are Putting Their Money

This Is Where the World's Richest Men Are Putting Their Money - Ad

Bill Gates, Peter Thiel, Mark Zuckerberg -- they're pouring millions into something we call Imperium technology. And you can invest in this tech alongside them starting with just $10. Bill Gates called Imperium "one of the most powerful technologies of the 21st century."

Bitcoin Halving Jitters: Why 10x Research Urges Caution

With Bitcoin (CRYPTO: BTC) down 11% over the past week, a 10x Research report advises caution considering the sell-off ahead of the Bitcoin halving.

Trump VP Contender Kristi Noem Stirs Controversy Defending Dog's Brutal Killing On Family Farm: 'It Had To Be Done'

Trump VP contender Kristi Noem is facing backlash for defending her dog's brutal killing on a family farm in an upcoming memoir.

Central Banks Buying Gold in Record Numbers

Central Banks Buying Gold in Record Numbers - Ad

Most folks have completely missed the fact that the world's Central Banks have been quietly gobbling up as much gold as they can... Stacking it in their locked vaults on pallets in record numbers. Find out why right here (and see what you can do to get in too with just a few dollars).

Retail sales up a strong 0.7% in March from February, underscoring the resiliency of the US consumer

NEW YORK (AP) — Americans increased their spending pace in March at a better-than-expected pace the previous month, , underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges.

Binance founder Changpeng Zhao faces sentencing; US seeks 3-year term for allowing money laundering

SEATTLE (AP) — Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, faces sentencing Tuesday in a Seattle courtroom, where U.S. prosecutors are asking a judge to give him a three-year prison term for allowing rampant money laundering on the platform.

Market Warning: Is BTC is Just the Start?

Market Warning: Is BTC is Just the Start? - Ad

Missed out the AI craze, or BTC's 40% jump? 50-year Wall Street veteran Marc Chaikin just detailed another way to play this market rally.

Elon Musk Causes Stir With Response To Professor's Ominous Prediction Of Civil War 'Coming To The West'

Elon Musk raised eyebrows with his recent tweet affirming a prediction of a civil war in the West.

FBI opens criminal investigation into Baltimore bridge collapse, AP source says

The FBI is conducting a criminal investigation into of Baltimore’s Francis Scott Key Bridge that is focused on the circumstances leading up to it and whether all federal laws were followed, according to a person familiar with the matter.

A.I. Pioneer Issues Urgent Warning to Americans

A.I. Pioneer Issues Urgent Warning to Americans - Ad

According to one early A.I. pioneer: "You can either use this as an unfair advantage to grow your wealth, or you can let it ravage your retirement savings. There's no middle option."

Gold Resource Reports Q1 Sales; Worthington Steel Partner-Level Supplier; US Gold's Direct Offering And More: Tuesday's Top Mining Stories

"Retirement Secret" Showed 995% Gain Last Time We Shared It - Ad

It's a straightforward way to come out on top no matter who wins this November... It's not cryptos, or options, and anyone can do it.

Bitcoin ETFs Could Propel King Crypto Above Gold's Market Cap, Says Analyst: 'These Are Very Conservative Numbers'

Renowned cryptocurrency analyst Willy Woo has projected that the introduction of Bitcoin ETFs could potentially drive Bitcoin’s (CRYPTO: BTC) price to surpass that of gold.

European Union questions TikTok on new app that pays users for watching

LONDON (AP) — European Union regulators said Wednesday they're seeking details from TikTok on a new app from the video sharing platform that pays users to watch videos.

Should You Buy Bitcoin in 2024? [Expert's Shocking Answer]

Should You Buy Bitcoin in 2024? [Expert's Shocking Answer] - Ad

Bitcoin minted 100,000 millionaires and if you're not one of them, that ship has sailed. But there's another millionaire-minting crypto at our doorstep... research shows this coin could be 20X bigger than Bitcoin by the end of the decade. With crypto starting to heat up again, this could be the perfect time to get in.

Micro-Cap Brain Cancer Focused Plus Therapeutics Poised To Receive $3M From US Department of Defense

Plus Therapeutics will secure $3 million in funding from the Department of Defense for pediatric brain cancer trial expansion.

Wall Street Poised To Rebound From Slump As Earnings Optimism Grows: Analyst Eyes This S&P 500 Level As Attractive Entry Point

U.S. stocks are priming for a firmer start on Wednesday, potentially striving to inflect higher from the weakness seen so far in April. As some bullish market watchers pointed out there could be an inflection from the second half of April, with earnings potentially serving as an upside catalyst.

One Crypto Can Change Your Financial Life

One Crypto Can Change Your Financial Life - Ad

The catch is you won't be able to become a millionaire by buying Bitcoin today. There are five little-known coins I've discovered that I believe will skyrocket over the course of the next few months.

Abbott Labs tops Q1 expectations, raises low end of 2024 guidance range

ABBOTT PARK, Illinois (AP) — Abbott Laboratories reported a first-quarter profit of $1.23 billion Wednesday.

Trending Now