{"id":624770,"date":"2023-04-02T14:49:34","date_gmt":"2023-04-02T19:49:34","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/02\/shib-witnesses-2000-surge-in-burn-rate-what-about-its-price\/"},"modified":"2023-04-02T14:49:34","modified_gmt":"2023-04-02T19:49:34","slug":"shib-witnesses-2000-surge-in-burn-rate-what-about-its-price","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/02\/shib-witnesses-2000-surge-in-burn-rate-what-about-its-price\/","title":{"rendered":"SHIB witnesses 2000% surge in burn rate \u2013 what about its price"},"content":{"rendered":"<div id=\"mvp-content-main\">\n<ul>\n<li><em><span>Shiba Inu experienced a massive increase in its burn rate, resulting in the burning of over 202 million SHIB tokens.<\/span><\/em><\/li>\n<li><em><span>The recent spike in SHIB\u2019s burn rate impacted its price, leading to a modest gain.<\/span><\/em><\/li>\n<\/ul>\n<p><span>The world of <a href=\"https:\/\/ambcrypto.com\/?s=shiba+inu\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Inu [SHIB]<\/a> was experiencing a surge of progress at press time, particularly with the introduction of <a href=\"https:\/\/ambcrypto.com\/shibarium-testnet-achieves-an-impressive-milestones-but-what-about-bone\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shibarium<\/a>. Notably, there has been a notable increase in its burn rate, influenced by several factors. Considering this spike in burn rate, one might wonder if it has affected the price of Shiba Inu as well.<\/span><\/p>\n<hr>\n<p>Read <a href=\"https:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Inu\u2019s [SHIB] Price Prediction<\/a> 2023-24<\/p>\n<hr>\n<h3><b>Over 2000% of SHIB burnt<\/b><\/h3>\n<p><span>According to the latest statistics from <a href=\"https:\/\/www.shibburn.com\/\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">shibburn<\/a>, Shiba Inu experienced a remarkable surge in its burn rate on 1 April. The data showed an increase of 2025.75% in the burn rate, which resulted in the burning of over 202 million <a href=\"https:\/\/ambcrypto.com\/shiba-inu-shib-investors-sit-and-stay-as-tokens-price-plays-dead\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">SHIB<\/a> tokens as of this writing. <\/span><\/p>\n<p><span>Furthermore, the total number of SHIB tokens burnt has now surpassed 400 trillion.<\/span><\/p>\n<h3><b>Triggers for Shiba Inu burns<\/b><\/h3>\n<p><span>The burn rate of SHIB is subject to fluctuations due to multiple factors, including the volume of SHIB transactions, the token\u2019s price, and the general market conditions. <\/span><\/p>\n<p><span>Also, modifications made by the Shiba Inu team to the token\u2019s burn mechanism can impact the burn rate. The modifications could be tweaking the transaction fee or introducing fresh burn events.<\/span><\/p>\n<h3><b>Volume and daily price move<\/b><\/h3>\n<p><span>Despite the launch of Shibarium\u2019s testnet, it is important to note that the network\u2019s main token currently in use is the <a href=\"https:\/\/ambcrypto.com\/?s=bone\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Swap BONE [BONE]<\/a>. In terms of SHIB\u2019s trading volume, data from Santiment indicated that there had been no significant increase. <\/span><\/p>\n<p><span>As of this writing, the trading volume of SHIB stood at over 217 million, with no significant spikes observed.<\/span><\/p>\n<div id=\"attachment_302075\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-302075\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023.png\" alt=\"Shiba Inu volume\" width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.49.25-01-Apr-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-302075\">Source: Santiment<\/p>\n<\/div>\n<p><span>The recent spike in <a href=\"https:\/\/ambcrypto.com\/shiba-inu-shib-price-prediction-26\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Inu\u2019s<\/a> burn rate also impacted its price. Upon analyzing SHIB\u2019s price movement on the daily timeframe, it could be observed that the token had been on an upward trend for the past two days. <\/span><\/p>\n<p><span>The previous trading session ended with a gain of over 2%, and as of this writing, it had a gain of over 1%. This slight increase in value caused the Relative Strength Index to move slightly above the neutral line.<\/span><\/p>\n<div id=\"attachment_302076\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-01_16-51-01.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-302076\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-01_16-51-01.png\" alt=\"SHIB\/USD price move\" width=\"1490\" height=\"723\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201490%20723'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-01_16-51-01.png 1490w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-01_16-51-01-300x146.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-01_16-51-01-1024x497.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-01_16-51-01-768x373.png 768w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-01_16-51-01.png\"><\/a><\/p>\n<p id=\"caption-attachment-302076\">Source: TradingView<\/p>\n<\/div>\n<hr>\n<p>Is your portfolio green? Check out the <a href=\"https:\/\/ambcrypto.com\/calculator\/shiba-inu-profit-calculator\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Inu Profit Calculator<\/a><\/p>\n<hr>\n<p><span>Over the past 30 days, <a href=\"https:\/\/ambcrypto.com\/shiba-inu-this-new-update-might-end-fud-surrounding-shibarium\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Inu<\/a> investors found a reason to rejoice as the token experienced a modest gain. The 30-day Market Value to Realized Value ratio (MVRV) showed that SHIB has moved to 0.652%. <\/span><\/p>\n<p><span>This value suggested that the token has moved from being undervalued for months to being slightly overvalued.<\/span><\/p>\n<div id=\"attachment_302077\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-302077\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023.png\" alt=\"Shiba Inu (SHIB) MVRV\" width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/SHIBA-INU-SHIB-16.52.44-01-Apr-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-302077\">Source: Santiment<\/p>\n<\/div><\/div>\n<div id=\"mvp-content-bot\">\n<div id=\"mvp-author-box-wrap\">\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\" height=\"60\" width=\"60\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2060%2060'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<p>Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating.<br \/>\nShillsalot&#8217;s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him.<br \/>\nP.S &#8211; There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous.<br \/>\nWait, are they Satoshi? :\/<\/p>\n<\/p><\/div>\n<div itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\">\n<div itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\">\n<p><img decoding=\"async\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%200%200'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\"><\/p>\n<p><meta itemprop=\"url\" content=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<meta itemprop=\"name\" content=\"AMBCrypto\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/ambcrypto.com\/shib-witnesses-2000-surge-in-burn-rate-what-about-its-price\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Suzuki Shillsalot<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu experienced a massive increase in its burn rate, resulting in the burning of over 202 million SHIB tokens. The recent spike in SHIB\u2019s burn rate impacted its price, leading to a modest gain. The world of Shiba Inu [SHIB] was experiencing a surge of progress at press time, particularly with the introduction of<\/p>\n","protected":false},"author":1,"featured_media":624771,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3521,23215],"tags":[],"class_list":["post-624770","post","type-post","status-publish","format-standard","has-post-thumbnail","category-surge","category-witnesses"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/624770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=624770"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/624770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/624771"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=624770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=624770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=624770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}