{"id":19639,"date":"2024-06-11T15:38:24","date_gmt":"2024-06-11T15:38:24","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=19639"},"modified":"2026-07-14T15:51:53","modified_gmt":"2026-07-14T15:51:53","slug":"shib-price-tanks-but-this-metric-soars-by-2800","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/shib-price-tanks-but-this-metric-soars-by-2800\/","title":{"rendered":"SHIB Price Tanks but This Metric Soars by 2800%"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em><strong>Over 41% of SHIB\u2019s maximum supply has already been destroyed.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shiba Inu\u2019s burn rate surged by 2,800% in the past 24 hours.<br>Despite increased burn efforts and advancements in the layer-2 scaling solution, Shibarium, SHIB\u2019s price remains down, reflecting the overall market correction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">SHIB\u2019s Burning Efforts<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Shiba Inu\u2019s burn rate exploded by 2,800% in the past 24 hours, resulting in almost 8 million tokens removed from circulation. Data shows that over 50% of the amount was destroyed in a single transaction approximately 17 hours ago.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The burning program aims to reduce the tremendous supply of the meme coin and create potential value appreciation through scarcity. SHIB has a maximum supply of 999,982,363,413,352 tokens, with more than 41% already sent to a null address.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The mechanism is rather complicated and involves both automatic and manual burns. If you want to learn more about it, feel free to read our dedicated guide here. Not long ago, the team behind the meme coin introduced \u201ca transformative token mechanism\u201d to automate the entire system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, it\u2019s worth noting that SHIB remains deep in the red, plummeting by 3% on a daily scale and 6% weekly (per CoinGecko\u2019s data). Its pullback coincides with an overall market correction, where Bitcoin (BTC) tumbled to as low as $67,500, while Ethereum (ETH) neared the $3,500 mark.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The fluctuation in the burn rate might have been caused by someone moving to liquidate their position during times of market uncertainty and increased volatility.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"What Is Shibarium? Everything You NEED To Know About Shiba Inu&#039;s Blockchain\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/rYzZWZqXspo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n<!-- related-seo -->\n<div class=\"related-seo\">\n<h3>Related articles<\/h3>\n<ul>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/shiba-inu-shib-hits-a-new-major-milestone-details\/\">Shiba Inu (SHIB) Hits a New Major Milestone: Details<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/important-shiba-inu-metric-soars-by-100-amid-shib-price-rally-details\/\">Important Shiba Inu Metric Soars by 100% Amid SHIB Price Rally: Details<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/millions-worth-of-bnb-burned-binance-listings-falter-and-the-crypto-market-feels-the-pressure-from-the-u-s-and-china-key-events-of-the-week\/\">Millions Worth of BNB Burned, Binance Listings Falter, and the Crypto Market Feels the Pressure from the U.S. and China: Key Events of the Week<\/a><\/li>\n<\/ul>\n<\/div>\n<!-- \/related-seo -->\n","protected":false},"excerpt":{"rendered":"<p>SHIB&#8217;s token burn rate surged by 2800%, with over 41% of the total supply destroyed. Despite this, SHIB prices remain low amid market correction.<\/p>\n","protected":false},"author":1,"featured_media":19708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"SHIB Prices Rise, Burn Rate Surges by 2800%","rank_math_description":"Discover how SHIB's burn rate increased by 2800% with over 41% of tokens destroyed. Read the latest SHIB and crypto market news now.","rank_math_focus_keyword":"SHIB prices, burn rate","_forpost_external_id":"","_seorun_article_id":"","footnotes":""},"categories":[433,369],"tags":[5745,11800,2824,9730,4623],"class_list":["post-19639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kriptovalyuty-en","category-news-en","tag-burn","tag-cryptocurrency","tag-market","tag-shib","tag-tokens","resize-featured-image"],"lang":"en","translations":{"en":19639,"uk":19640,"ru":19641},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/19639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/comments?post=19639"}],"version-history":[{"count":4,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/19639\/revisions"}],"predecessor-version":[{"id":47672,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/19639\/revisions\/47672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media\/19708"}],"wp:attachment":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media?parent=19639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/categories?post=19639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/tags?post=19639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}