- The Shiba Inu holder’s address mirrored a steep decline in the last week.
- According to Shibburn(dot)com burn rate descended by over 89% in the last 24 hours.
Shiba Inu is a leading meme cryptocurrency popularly known as ‘Dogecoin-Killer.’ According to Shibburn(Dot)com, in the last 24 hours, the burn rate degraded by over 89%.
The official Twitter handle of Shibburn informed that in the past 24 hours, around 111,207,374 $ SHIB were burned, and weekly, 1,263,659,209 Shiba Inu tokens were burned. The burn rate of leading meme tokens slipped over 45% in the last seven days.
According to CoinMarketCap, Shiba Inu is the 14th most traded cryptocurrency. At press time, the meme cryptocurrency traded at $0.00001096 with a 24-hour trading volume of $123,411,657.
Shiba Inu’s price stayed in a narrow congestion zone, showing consolidating moves. With rejection on a 50-day EMA, SHIB cannot move across it. If it maintains to surpass $0.000001200, then bullishness resumes, but neutrality will be below that.
Until April 10, 2023, the total Shiba tokens burned from the initial supply was 410,631,355,779,408 SHIB, and the total circulating supply of Shiba Inu is 573,893,750,262,060 SHIB.
Shiba Inu tokens are traded on Coinbase, Kucoin and Crypto(dot)com, including dozens of other centralized crypto exchanges. Uniswap, the leading decentralized crypto exchange, also offers a platform to trade Shiba Inu tokens.
The 24-hour trading range of Shiba Inu was $0.00001084 and $0.00001099.
Data from CoinMarketCap show that from April 01, the number of addresses registered after March ends mirrors a steep decline. Since April 09, the total number of active addresses holding Shiba Inu was 1,286,282.
Shiba Inu Acceptance as Payment Mode
The meme cryptocurrency is widely accepted by 10+ international companies such as GameStop, Nordstrom, Bed Bath & Beyond, and Austin Martin.
- GameStop, a leading gaming giant, now accepts payment in cryptocurrencies. The company lets users purchase world-class gaming equipment using the Shiba Inu via Flexa.
- Bed Bath & Beyond is an American company popularly known for its home furnishing and other quality products. The company started accepting cryptocurrency payments in the first quarter of 2022.
- Aston Martin, a UK-based luxury and sports car manufacturer, also started accepting Shiba Inu payments in the mid of 2022.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/04/10/shiba-inu-burn-rate-drops-by-89-trading-volume-soars-by-7/