Latest news with #Shibburn
Yahoo
28-03-2025
- Business
- Yahoo
Shiba Inu burn rate explodes over 57,000% as whale burns 2 billion tokens
The Shiba Inu (SHIB) burn rate skyrocketed around 57,069.02% over the last 24 hours, with more than 1 billion SHIB permanently removed from circulation in a single transaction, as per Shibburn In a single transaction, more than 1 billion Shiba Inu was permanently removed from circulation through burn, and just days after the same whale burned, an additional 1 billion SHIB was burned in less than three days. Lucie, part of Shiba Inu's marketing team, also confirmed that the address burned 700 BONE and LEASH tokens, expressing a deep commitment to SHIB's deflationary future. She said, "There was another 1B SHIB burn. The address was totally the same, and 2B SHIB burned in a 3-day frame. What caught my attention? The same address also burned 700 BONE and LEASH—unstacked from ShibaSwap." In correlation with this thesis, IntoTheBlock data revealed that SHIB's large transaction count—accounting for transactions worth $100k or more—surged in one day from 65 to 164, a +152% daily increase, hitting its 7-day peak on March 26. Four days earlier, on March 23, the 7-day low was 23. This explosion in whale activity coincides with a 51.8% increase in daily active addresses, which indicates an increase in demand. Data from Shibariumscan confirms that the network now processes 3.8 million daily transactions, a clear sign of continued on-chain activity. Shiba Inu, which has a market cap of $8.38 billion, announced SHIB Pay on March 25. SHIB Pay is a new crypto payment layer for merchants that features fast settlements with zero intermediaries and worldwide coverage. In the next phase, Shib Finance is set to introduce reputation-based lending. It will also provide undercollateralized loans and private DeFi tools as part of the ecosystem developments it offers, pushing the ecosystem toward trust-based inclusive finance. With all the technical prowess on its way, on March 16, analyst Javon Marks said that Siba Inu could explode +500% towards $0.000081. After the burn, Shiba Inu could not break past the resistance level and is trading at $0.00001424, down by over 6%, as per Kraken's price feed.
Yahoo
09-03-2025
- Business
- Yahoo
Shiba Inu burn rate surges as Shytoshi Kusama says SHIB ETF is ‘one step closer'
The Shiba Inu (SHIB) community has ramped up its efforts to reduce the token's circulating supply, with the latest data showing a staggering 5,440.85% increase in the daily burn rate. 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.
