Shiba Inu burn rate surges as Shytoshi Kusama says SHIB ETF is ‘one step closer'
According to Shibburn, 40 million SHIB tokens were burned in the last 24 hours, fueled by two large transactions that sent over 32.8 million SHIB to dead wallets.
Shibburn reports that a total of 13 million SHIB and 20 million SHIB were burned in separate transactions. Over the past week, 140 million SHIB tokens have been destroyed, marking a 10.45% weekly surge in the burn rate. This spike in burns has intensified speculation about a potential Shiba Inu ETF (SHIB ETF) following news that Bitwise Asset Management has applied for a Dogecoin (DOGE) ETF.
This comes as Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, expressed optimism about the prospects of a Shiba Inu ETF in light of the DOGE ETF filing.
"An ETF for SHIB is now one step closer due to the approval of Ethereum's ETF. This is a significant milestone for both ETH and SHIB," Kusama told The Shib Daily.
The New York Stock Exchange Arca (NYSE Arca) filed a 19b-4 proposal on March 3, aiming to list and trade shares of the Bitwise Dogecoin ETF. If approved by the U.S. Securities and Exchange Commission (SEC), the ETF would provide regulated exposure to DOGE for retail and institutional investors.
The DOGE ETF will operate on a cash-based system, meaning investors cannot directly deposit or withdraw Dogecoin. Coinbase Custody will serve as the custodian, while Bank of New York Mellon (BNY Mellon) will handle administration, record-keeping, and cash holdings.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 hours ago
- Yahoo
Sharp 7% Drop Sends DOGE Toward 22-Cents Support on High-Volume Selloff
Technical Analysis Overview DOGE falls 6.88% in the 24-hour period ending August 12, dropping from $0.24 to $0.22 as sellers overwhelm bid-side liquidity. The heaviest pressure hits at 07:00 on August 11, with price sliding from $0.238 to $0.233 on 485.69M volume — 31% above the daily average of 371.45M. This establishes $0.238 as a major resistance level. Buyers step in at $0.226 during the 11:00 session, generating 793.38M in volume. Secondary resistance forms at $0.231 as multiple rally attempts fail. Final-hour trade sees DOGE range-bound between $0.2247-$0.2253 with volume compression, suggesting potential seller exhaustion. News Background The selloff comes amid broader weakness in digital assets, with regulatory uncertainty and global trade tensions weighing on risk sentiment. Major economies are escalating tariff disputes, pressuring multinational supply chains, while central banks signal potential policy shifts — a mix that has prompted institutional de-risking across crypto holdings. Price Action Summary • DOGE declines 6.88% from $0.24 to $0.22 in August 11 01:00–August 12 00:00 window• $0.238 resistance locked in after 07:00 selling climax on 485.69M volume• $0.226 support sees 793.38M in buy-side flows; $0.231 secondary resistance caps rebounds• Final hour trades in tight $0.2247-$0.2253 range with falling volume Market Analysis and Economic Factors Whale and institutional profit-taking at $0.238 resistance set the tone for the session, triggering a breakdown below $0.23 and forcing retests of $0.226. Support buying was evident on two major volume spikes (11:00 and 21:00), but repeated rejections near $0.231 kept DOGE pinned. With volume thinning at session lows, the structure hints at possible base-building — though macro headwinds could see $0.22 tested again. Technical Indicators Analysis • Resistance: $0.238 (high-volume rejection), $0.231 (secondary cap)• Support: $0.226 initial defense, $0.2247-$0.2249 intraday floor• 24-hour range: $0.019 (7.89% volatility)• Volume compression near lows signals possible seller fatigue• Multiple failed breakouts above $0.231 confirm supply zone overhead What Traders Are Watching • Retest of $0.22 and whether buyer flows reappear at key support• Breakout attempts above $0.231 as a first step toward recovery• Impact of macro headlines on broader meme coin sentiment• Signs of renewed whale accumulation after selling climax
Associated Press
14 hours ago
- Associated Press
DIFD AUTO enables buyers to purchase Tesla and imported cars using cryptocurrency
London, England, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Tesla's partnership with Dogecoin may be merely symbolic, but it foreshadows a future taking shape: cryptocurrencies are evolving from 'speculative assets' to 'lifestyle tools,' while traditional industries are embracing more diverse financial possibilities. This is certainly not a fantasy; it's a real, real revolution brought to you by the DIFD AUTO platform. The stunning 2025 Mercedes-AMG Coupe is on sale now with no reserve price and up to $10,000 off until September 8th. Between late 2021 and 2024, Tesla repeatedly experimented with integrating Dogecoin into its product payment system, sparking widespread attention within the cryptocurrency community and prompting the traditional automotive industry to re-evaluate the very definition of 'currency.' When tech and industry leader Tesla opened its doors to cryptocurrency, it wasn't just a business experiment; it epitomized the future transformation of business and finance. Dogecoin may have initially been a 'joke coin,' but its potential lies in future cross-industry integration, technology-driven innovation, and the restructuring of the financial system. Now, when Elon Musk hesitates to accept Bitcoin payments, DIFD AUTO makes it possible and simple, eliminating the need for Tesla's cumbersome paperwork. DIFD AUTO founder Mohammed Evans explained, 'During the auction, bidders and buyers don't need to worry about cryptocurrency fluctuations. All bids and auction prices are listed in US dollars, as buyers are familiar with the value of fiat currencies. After selecting a vehicle, buyers can choose to pay for their Tesla and other vehicles with cryptocurrency.' He further elaborated on the process: 'If the buyer doesn't accept cryptocurrency, we convert it; no problem.' We offer a secure title and payment escrow service, including a free cryptocurrency-to-USD exchange. This optional escrow service eliminates much of the risk of buying an expensive car from a stranger and ensures both parties are responsible for the security of the transaction. If you wish to pay your winning bid in cryptocurrency, Mohammed Evans strongly recommends first converting your cryptocurrency into a stablecoin, such as Tether (USDT) or USDC, which are pegged 1:1 to the US dollar. This conversion eliminates the volatility associated with cryptocurrencies. DIFD AUTO: Your Crypto Car Buying Expert, Full of Benefits Founded in 2019 and headquartered in the UK, DIFD AUTO is an innovative pioneer specializing in smart car sales. The company has established a sophisticated export network spanning five continents. Our one-stop service includes international ocean freight and full container shipping, professional customs clearance and compliance documentation, and multilingual customer support (English, German, French, Arabic, etc.). We also offer global vehicle delivery, allowing buyers to conveniently pick up their vehicles at home. Our portfolio encompasses a full range of vehicles, from Tesla electric cars to Lexus supercars, and we accept payments in pure cryptocurrencies (BTC, USDC, USDT, XRP, DOGE, etc.). As the world's first crypto car dealer, DIFD AUTO Focusing on the high-end market, the company represents luxury brands such as Porsche, Toyota, Mercedes-Benz, and Ferrari. 'Cryptocurrency democratizes car ownership, allowing everyone to own their dream car with digital wealth,' said company president Mohammed Evans. User feedback indicates that DIFD AUTO offers not only low transaction fees but also exclusive VIP services. Cryptocurrency expert Justice Conder advises against purchasing a Lamborghini directly with Bitcoin or Ethereum. It's more cost-effective to trade high-risk altcoins for luxury cars. Bitcoin is best held long-term as a store of value, and you can also use it to secure a loan with a 3% annual interest rate. We provide step-by-step instructions for applying for this tax-advantaged loan, along with a hands-on demonstration. For more information and to get started on your dream car, visit info at
Business Upturn
16 hours ago
- Business Upturn
DIFD AUTO enables buyers to purchase Tesla and imported cars using cryptocurrency
London, England, Aug. 15, 2025 (GLOBE NEWSWIRE) — Tesla's partnership with Dogecoin may be merely symbolic, but it foreshadows a future taking shape: cryptocurrencies are evolving from 'speculative assets' to 'lifestyle tools,' while traditional industries are embracing more diverse financial possibilities. This is certainly not a fantasy; it's a real, real revolution brought to you by the DIFD AUTO platform. The stunning 2025 Mercedes-AMG Coupe is on sale now with no reserve price and up to $10,000 off until September 8th. Between late 2021 and 2024, Tesla repeatedly experimented with integrating Dogecoin into its product payment system, sparking widespread attention within the cryptocurrency community and prompting the traditional automotive industry to re-evaluate the very definition of 'currency.' When tech and industry leader Tesla opened its doors to cryptocurrency, it wasn't just a business experiment; it epitomized the future transformation of business and finance. Dogecoin may have initially been a 'joke coin,' but its potential lies in future cross-industry integration, technology-driven innovation, and the restructuring of the financial system. Now, when Elon Musk hesitates to accept Bitcoin payments, DIFD AUTO makes it possible and simple, eliminating the need for Tesla's cumbersome paperwork. DIFD AUTO founder Mohammed Evans explained, 'During the auction, bidders and buyers don't need to worry about cryptocurrency fluctuations. All bids and auction prices are listed in US dollars, as buyers are familiar with the value of fiat currencies. After selecting a vehicle, buyers can choose to pay for their Tesla and other vehicles with cryptocurrency.' He further elaborated on the process: 'If the buyer doesn't accept cryptocurrency, we convert it; no problem.' We offer a secure title and payment escrow service, including a free cryptocurrency-to-USD exchange. This optional escrow service eliminates much of the risk of buying an expensive car from a stranger and ensures both parties are responsible for the security of the transaction. If you wish to pay your winning bid in cryptocurrency, Mohammed Evans strongly recommends first converting your cryptocurrency into a stablecoin, such as Tether (USDT) or USDC, which are pegged 1:1 to the US dollar. This conversion eliminates the volatility associated with cryptocurrencies. DIFD AUTO: Your Crypto Car Buying Expert, Full of Benefits Founded in 2019 and headquartered in the UK, DIFD AUTO is an innovative pioneer specializing in smart car sales. The company has established a sophisticated export network spanning five continents. Our one-stop service includes international ocean freight and full container shipping, professional customs clearance and compliance documentation, and multilingual customer support (English, German, French, Arabic, etc.). We also offer global vehicle delivery, allowing buyers to conveniently pick up their vehicles at home. Our portfolio encompasses a full range of vehicles, from Tesla electric cars to Lexus supercars, and we accept payments in pure cryptocurrencies (BTC, USDC, USDT, XRP, DOGE, etc.). As the world's first crypto car dealer, DIFD AUTO Focusing on the high-end market, the company represents luxury brands such as Porsche, Toyota, Mercedes-Benz, and Ferrari. 'Cryptocurrency democratizes car ownership, allowing everyone to own their dream car with digital wealth,' said company president Mohammed Evans. User feedback indicates that DIFD AUTO offers not only low transaction fees but also exclusive VIP services. Cryptocurrency expert Justice Conder advises against purchasing a Lamborghini directly with Bitcoin or Ethereum. It's more cost-effective to trade high-risk altcoins for luxury cars. Bitcoin is best held long-term as a store of value, and you can also use it to secure a loan with a 3% annual interest rate. We provide step-by-step instructions for applying for this tax-advantaged loan, along with a hands-on demonstration. For more information and to get started on your dream car, visit Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
