CandleFocus Can Shibarium Boost and Burn Rate Surge Fuel SHIB Recovery?
2024-10-26
Author: Content Editor
The cryptocurrency Shiba Inu (SHIB) has experienced a 4.75% decrease in its price within the past 24 hours, signaling a bearish trend. However, there are positive indications in the Shiba Inu ecosystem that suggest a potential recovery. The burn rate of SHIB tokens has increased by 114.36% in the last 24 hours, resulting in the destruction of a significant amount of the token's initial supply. Additionally, the number of daily transactions on Shiba Inu's Layer-2 scaling blockchain has reached 4.75 million, indicating growing adoption and use of the network. These factors could potentially trigger a supply crunch and initiate a price rally for SHIB. The Shiba Inu ecosystem is also in a hyper bullish mode, with a recent statement by the network's marketing lead encouraging patience and belief in the future of the ecosystem.
Related News
Long-Term Holders’ Panic Drives XRP Price to 2-Month Low Bitwise CEO Comments On BTC Selling Pressure Amid Bitcoin ETFs Milestone 92,554 Users Exposed As Crypto Payments Firm Reveals Attacker Accessed Names, Birth Dates, Passports, Drivers Licenses and More After Nearly a Year Holding ETH, Whale Sells 8,982 $ETH, Bags a $3M Gain Bitcoin hashrate hits historic 741 EH/s milestone, pushing closer to the zettahash era Is Cardano Price on Track to Hit $1 In November? Bitcoin Bullish Outlook Confirmed By Critical Data – STH Overheating? Kishu Inu Spikes 3.62%, Analysts Expect Strong Growth Through 2028 Cardano (ADA) Price Drops Sharply as Benjamin Cowen’s Bearish Forecast Materialize Infamous Whale Lost $55 Million on His Recent Cryptocurrency Trades – Here’s the Story of the Failure Investment Company Executive Lists Four Events That Could “Boost the Cryptocurrency Market” 0xMantle Introduces Agora’s $AUSD Stablecoin to Transform Digital Finance FTX settles $228M dispute with Bybit, customer payouts next? Bank of England to press on with digital currency in case banks fall short, Bailey says Legendary Analyst il Capo Warns: “One Last Call Before Altcoin Season Begins…” Solana’s Bull Run Halts with 3-Month High Liquidations After 7% Price Drop Will Shiba Inu Price Hit ATH Before Year End? Central Bank of Brazil Highlights Tokenization Potential Before IMF and World Bank Triple-Digit Gains and Pricey Sales—What’s Fueling the NFT Market’s Latest Shakeup? Fed Rate Cut To Happen 2 Days After US Election, Possible Market Impact? Why Bitcoin Price May Fall Below $60000? AI predicts Bitcoin price for year-end Aptos Leads In Y-O-Y DEX Trading Volume, Among Top Blockchains 'The Case for Bitcoin as a Reserve Asset' — Bitcoin Policy Institute The Race to the Zettahash Era: Bitcoin’s Hashrate Breaks New Records Two Major Market Making Companies Dumped This Altcoin Today! XRP Price Prediction for October 26 Bitcoin (BTC) Price Prediction for October 26 Sui Network Staking Fix Coming Oct 27th as SUI Price Tumbles to $1.70 Bitcoin set for ‘huge move’ as Bollinger Bands hit tightest levels Solana Tests Inverse Head and Shoulders Pattern: Is a Bullish Breakout on the Horizon? Can Shibarium Boost and Burn Rate Surge Fuel SHIB Recovery? Bitcoin ‘Right on Track’ for More Upside Despite Months of Sideways Movement, Says Kevin Svenson – Here’s Why Bitcoin ETF inflows surpass $3b in October, demand hits six-month high SUI In Bear Territory: RSI Drop Suggests Further Downside Risk TON holders expected to top Ether’s by year-end 2.23 Trillion SHIB in 24 Hours: Shiba Inu Price Still in Red Will Dogecoin Price Hit $1 in 2024 Top Meme Coins WIF, PEPE Bleeding, but This Expert Is Optimistic Is Ethereum Price Forming a Macro Bottom? AI Agents Handling Meme Coins Is No Joke, Analysts Say PEPE Loses One Zero as Sell-Off Grows, but There's Twist Weekly Cryptocurrency Market Analysis: Short-Term Altcoin Support Intact As Recovery Begins Retesting Support: Bitcoin’s Next Big Price Move May Be on the Horizon Victims to sue WazirX over $235m hack in class-action lawsuit One Simple Reason Retail Still Buys Meme Coins From Smuggling Gold Out of Africa to Bridging Bitcoin and Cardano Bitcoin Open Interest Hits $33 Billion All-Time High Amid Price Drop Cardano Founder Says DeFi in Bitcoin Will Dwarf That of Ethereum and Solana Here’s Shiba Inu Price if its Market Cap Reaches $79B, $295B, and $1.32T Like Solana, Ethereum, and Bitcoin The ‘Purge’ — Vitalik’s plan to reduce Ethereum’s bloat Crypto Market Crash: Bitcoin and Altcoins Drop After Israel's Attack on Iran What USDT dominance is telling us about Bitcoin's price Ripple CEO Warned About Tether “Black Swan Event” in 2024, Is It Happening? Will Shiba Inu (SHIB) Continue Rally in November? BTC price nurses 5% dip amid warning Bitcoin can still 'flush' to $60K Solana Finally Flips All EVMs? Not Exactly, Expert Clarifies XRP Skyrockets 58% in Volume Amid $377 Million Crypto Market Sell-Off Bitcoin's PoW Is Bug, Not Feature, Here's Why WIF, PEPE, FTM: Analysts Predict Altcoin Market Breakout, Urge “Buy the Dip” US Court Takes Major Decision in Ripple Lawsuit After Settlement Talks In the face of AI-powered surveillance, we need decentralized confidential computing How digital bonds could reshape debt markets and cut borrowing costs SHIB Team Mystifies Community with Recent 4-Word Tweet Only Four of the Top Altcoins Have Yields in the Green This Week – Could A Rally Be Coming Next Week? Analysts Explained Ethereum On-chain Metric Shows Encouraging Signs Despite Recent Price Capitulation Expert Opinions: Here’s How Much Shiba Inu Can Potentially Rise in the Next Six Months Polygon Now Supports ERC-7683 to Boost Cross-Chain Interoperability Expert Pledges Never to Touch XRP Again; Here’s Why Expert Predicts 5,153% XRP Surge if Bitcoin Cracks $160K Bitcoin Prepares for a Major Breakout Setting Sights to New ATH of $99,000 – $100,000 APE, RAY, SPX6900 outperformed market as BTC traded sideways Top 10 Altcoins That Cryptocurrency Developers Have Focused On In The Last 30 Days Have Been Announced – Here is the List Shiba Inu Team Finally Launches Long-Awaited ShibaSwap 2.0 REI Network Partners with Whistle for Enhanced Digital Experience Top 3 Artificial Intelligence (AI) Coins of the Fourth Week of October 2024 Major Scam Suspected in This Altcoin – Price Down 98 Percent Tonight Ethereum Whale Transactions Surge to 6-Week High As ETH Price Drops Below $2,400 Shiba Inu Developer Says Ethereum Founder’s Battle with FUD “Makes Mine Feel Small” 8 Altcoins to Watch as Bitcoin Recovers in Q4 2024 XRP Exponential Growth Could Push Prices to $95 as Analyst Compares XRP to Netflix Stock Venture Platform Predicts XRP Price in the Next 6 to 12 Months There’s a 60% Chance Bitcoin Hits $170,000 This Cycle, According to Analyst Jamie Coutts – Here’s the Timeline Next Generation report: the future crypto trend of stablecoin Vitalik Buterin Outlines Helios's Role In Multi-Chain Ethereum Scaling Here is the Only Reason Why XRP Crashed Below $0.5 Today Will Bitcoin Rebound to $68K Despite Tether Scrutiny? Tesla Bitcoin Moves May No Longer Shake The Market How Low Could XRP Price Drop in November 2024? 8 Chinese Firms Exposed in High-Stakes Crypto Laundering Operation Expert Suggests Last Chance to Buy XRP as Donchian Channel Breakout Nears These Altcoins Dumped the Most as Bitcoin (BTC) Slumped to $65.5K (Weekend Watch) Top 7 Blockchain Projects Set to Transform AI, Gaming, and DeFi Sectors Vitalik Buterin Responds to ETH Sale Accusations: “I Haven’t Sold a Single ETH” Cardano (ADA) Price Plummets as Benjamin Cowen’s Bearish Prediction Comes True Fake Curve Finance app scams users, tops global finance charts 3 Crypto To Watch as Solana Eyes $200 Dogecoin Insider Says Holding Stablecoins Like USDT Is "Risky" FET Price Under Pressure: RSI Flags Extended Bearish Move Toward $0.966 Feds Target Businessman in Alleged Web of Secret Crypto Deals XRP Price Analysis: Can Bulls Break Through Resistance at $0.6500? Why You Should Sell These 3 Altcoins in October Solana Price Climbs 17% Weekly as Binance Wallet Stakes Big X Empire Soars: $100M Market Cap & Rising Shiba Inu (SHIB) Golden Cross Progress Here, This Key XRP Support Level Must Not Be Broken, Bitcoin (BTC) Not Ready to Give Up Tether-WSJ Fiasco Aftermath: Over $400 Million in Liquidations as BTC Dumped $3K in Minutes Meet the Sealminer A2: Bitdeer's New ASIC in the Bitcoin Mining Arena Cardano Price Set To Skyrocket By 430%, Crypto Analyst Predicts Bitcoin Drops Amid Market Chatter—A Familiar Pattern From the Past—Here’s What We Know NEAR Struggles Amid Bullish Momentum, Time to Buy or Sell? These 2 Metrics Indicate Further Upside for Solana (SOL) Price Tether-WSJ Fiasco Aftermath: Over $400 Million in Liquidations as BTC Dumped $3K in Minutes Will LDO Price Surge With New Ethereum Staking Module? Solana (SOL) Sees a 17% Price Surge Amid Major Whale Activity Kroma Partners with GameFi.org to Boost Web3 Game Finance Solutions Kraken Report Shows Why Crypto Voters Could Determine US Election Winner Bitcoin bulls 'in control' as long as price holds above $66.5K: Analysts Bitcoin Could Bring Microsoft ‘Next Trillion Dollars’ in Value, Michael Saylor Suggests Shiba Inu (SHIB) Golden Cross Progress Here, This Key XRP Support Level Must Not Be Broken, Bitcoin (BTC) Not Ready to Give Up Whales Drop ApeCoin (APE) Holdings Amid Recent Price Surge Analyst Predicts Bitcoin to Hit $500,000 as Whales Drive Price Surge