Shiba Inu's Burn Rate Surges While Price Faces Downward Pressure
Shiba Inu's burn rate skyrocketed this week, leading to the permanent removal of 116 million tokens from circulation despite the price facing a downturn.
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Shiba Inu's burn rate skyrocketed this week, leading to the permanent removal of 116 million tokens from circulation despite the price facing a downturn.
The looming U.S. consumer price index for May invites caution among Shiba Inu (SHIB) whales, resulting in a significant decrease in large-scale transactions.
Following a significant whale transaction, Shiba Inu has shown a slight recovery, outpacing Bitcoin while still facing week's decline.
Shiba Inu's price fluctuated significantly, peaking at 0.00001336 before a downturn, as PepeCoin failed to breach the critical 200-day average.
Despite a 5% drop, SHIB has found robust support around $0.00001440, backed by a loyal investor base exceeding 1.13 million. Upcoming updates to the Shiba Inu ecosystem also bolster long-term sentiment.
An exploration of Shiba Inu's recent price fluctuations and the impact of whale trading patterns that suggest imminent bearish trends.
Meme coin experiences downward pressure amid changing economic conditions despite positive news in trade relations between the US and China.
Despite a downward trend, institutional interest in SHIB appears to be growing, with numerous new millionaire wallets reported.
Recent developments highlight a significant uptick in Bitcoin's price, creating a favorable environment for memecoins like Shiba Inu and Dogecoin.
A recent report revealed that Ripple (XRP) is now the leading cryptocurrency in India, overtaking Bitcoin and Shiba Inu in trading volume.
Amid market turbulence due to geopolitical tensions, Shiba Inu is showing signs of recovery while achieving a significant transaction milestone with Shibarium.
Despite a drop in Shiba Inu's price, traders are holding firm, buoyed by substantial supply control and rising transaction numbers on Shibarium.
Bitcoin maintains its position above $87,000 while Dogecoin and Shiba Inu experience significant surges as traders remain vigilant regarding U.S. tariffs.
This partnership aims to leverage blockchain applications within public sector services, potentially increasing the appeal of Shiba Inu.
The collaboration between Shiba Inu and the UAE Ministry of Energy and Infrastructure aims to integrate innovative Web3 technologies into public services.
The memecoin segment has rapidly expanded, now accounting for over 11% of the crypto market, driven by assets such as Dogecoin and Shiba Inu.
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