

others
Shiba Inu Price Holds $0.000017 as Burn Rates Explodes 700% – Crypto News
Shiba Inu, a dog-themed coin, has experienced market volatility over the past 24 hours following a slight market correction. The token currently hovers above $0.000017, which is strong support for traders. At the time of writing, Shiba Inu price is trading at $0.00001718 with a slight decrease of 4% during the European trading session.
According to CoinMarketCap data, the market cap of Shiba Inu stands at $10 billion, ranking it at #13 among cryptocurrencies. The 24-hour trading volume is $316 million, marking a 27% decrease in volume. The circulating supply of SHIB is 589 trillion, with a total supply matching this figure.
Shiba Inu Price Fluctuates Amid Market Volatility
Despite a surge in the SHIB price over the past few days, the altcoin has declined by 10% over the past seven days. The fluctuation is evident from the weekly chart, which shows a peak of $0.00001979 on 17th July, followed by a steady decline, reflecting market volatility.
The all-time high for SHIB was $0.00008845, achieved on October 28, 2021, marking an 80% decrease from its peak. In the past 24 hours, SHIB has traded within a low range of $0.0000171 and a high of $0.00001792. The market trends indicate continued fluctuations as the coin adjusts to market conditions.
Significant Surge in Shiba Inu Coin Burn Rate
Shiba Inu price has seen a significant increase in its burn rate, soaring by 500% in just one day. According to Shibburn, a total of 60,380,203 SHIB tokens were destroyed in the past 24 hours. This surge coincided with the announcement of an Ethereum ETF, sparking widespread interest in the crypto sector.
HOURLY SHIB UPDATE$SHIB Price: $0.0000172 (1hr 0.00% ▼ | 24hr -3.06% ▼ )
Market Cap: $10,146,817,026 (-2.93% ▼)
Total Supply: 589,272,293,531,457TOKENS BURNT
Past 24Hrs: 60,380,203 (482.88% ▲)
Past 7 Days: 135,026,217 (27.66% ▲)— Shibburn (@shibburn) July 23, 2024
Over the past week, 135,026,217 SHIB tokens have been burned, marking a 27.66% rise. These tokens are permanently removed from circulation and sent to what is known as ‘dead wallets.’ This reduction in supply is part of a broader strategy to influence the token’s value amid volatile crypto market trends.
Is a Rebound Likely Amidst Market Correction?
Shiba Inu price is currently confronting a crucial resistance level at $0.000019. If it surpasses this threshold, its value could escalate to $0.000025. Achieving this could set the stage for a rise to the $0.00003 level.
On the flip side, increasing bearish pressure might force the Shiba Inu price prediction to fall to $0.000017. A shift in market mood to the negative could further reduce its price to $0.000018. A continued drop would indicate a downward trend in Shiba Inu’s market performance.

The 24-hour technical analysis of Shiba Inu shows a continuous decline in price volatility. The Relative Strength Index (RSI) is currently at 45.98, hovering below the midline, which suggests a slight bearish momentum or a consolidation phase.
The Moving Average Convergence Divergence (MACD) indicator also supports this view, as the MACD line is below the signal line, and both are trending downward, further confirming the bearish outlook.
Frequently Asked Questions (FAQs)
SHIB was inspired by a love for Shiba Inu dogs and a desire to build a decentralized community.
Shiba Inu was created anonymously by “Ryoshi” in 2020.
SHIB trades on ShibaSwap and is accepted at numerous locations globally.
Related Articles
<!–
–>
<!–
–>
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
<!–
–>
-
Blockchain5 days ago
Institutional Demand Surges As Ethereum Sets New Inflow Records – Crypto News
-
Blockchain5 days ago
DeFi Development Nears 1 Million Solana In Treasury – Crypto News
-
Business1 week ago
XLM Is More Bullish Than ETH, SOL, And XRP, Peter Brandt Declares – Crypto News
-
Cryptocurrency1 week ago
Anarchy, crime and stablecoins – Blockworks – Crypto News
-
others1 week ago
Top Crypto Exchange by Trading Volume Binance Announces Airdrop for New Ethereum (ETH) Ecosystem Altcoin – Crypto News
-
Cryptocurrency1 week ago
Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’ – Crypto News
-
Technology1 week ago
“Decentralized Ponzi Scheme”- Gold Bug Peter Schiff Slams Landmark Crypto Bills – Crypto News
-
Cryptocurrency7 days ago
Altseason heats up, but Bitcoin could face short-term pullback – How? – Crypto News
-
others1 week ago
VanEck Details Key Drivers Boosting Bitcoin Price, Including Corporate Treasury Demand, ETF Flows and More – Crypto News
-
Business1 week ago
XRP Lawsuit Update: Ripple Paid $125M in Cash, Settlement Hinges on Appeal – Crypto News
-
De-fi1 week ago
BNB Chain Teases New Blockchain with Privacy Features to Compete With Crypto Exchanges – Crypto News
-
Technology1 week ago
Breaking: GENIUS Act Becomes First Major Crypto Legislation as Trump Signs Bill – Crypto News
-
De-fi1 week ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
Cryptocurrency1 week ago
California Sheriffs Believe 74-Year-Old’s Disappearance Linked to Son’s Crypto Fortune – Crypto News
-
Cryptocurrency7 days ago
Shytoshi Kusama Breaks Silence on New SHIB AI Whitepaper and Transformed Future – Crypto News
-
Cryptocurrency6 days ago
Sanctum acquires Ironforge, plots transaction infrastructure vertical – Crypto News
-
Cryptocurrency6 days ago
XRP Price Hits All-Time High at $3.66 — Can It Smash Through $4 After Trump Win & SEC Shake-Up? – Crypto News
-
Business1 week ago
CLARITY Bill Could Delay Over Last-Minute Push for Anti-CBDC Clause; Report – Crypto News
-
others1 week ago
GBP/USD rallies on US PPI dip and Trump’s potential Powell removal – Crypto News
-
others1 week ago
GBP/USD rallies on US PPI dip and Trump’s potential Powell removal – Crypto News
-
Metaverse1 week ago
Zoho Zia LLM launched with speech-to-text models and AI agent marketplace: All you need to know – Crypto News
-
Cryptocurrency1 week ago
Russia’s $85 Billion Sberbank to Launch Crypto Custody Services – Crypto News
-
Technology1 week ago
Europe’s answer to ChatGPT? Mistral adds voice and research features to Le Chat AI – Crypto News
-
De-fi1 week ago
U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto – Crypto News
-
Technology1 week ago
Malicious code found in fake coding extensions used to steal crypto – Crypto News
-
Cryptocurrency1 week ago
XRP Price Spikes to Record Highs As Momentum Signals Extended Gains – Crypto News
-
Technology1 week ago
Meta’s AI Studio: Red flag or red herring? – Crypto News
-
Blockchain1 week ago
Why Bitcoin self-custody is declining in the ETF era – Crypto News
-
Cryptocurrency1 week ago
US House passes three key crypto bills; market reaction muted as Bitcoin dips – Crypto News
-
De-fi1 week ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
Cryptocurrency6 days ago
Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal – Crypto News
-
others6 days ago
Why Is The Crypto Market Rising Today? – Crypto News
-
Business5 days ago
Vitalik Buterin Approves Gas Limit Hike, Warns Against Risky Ethereum Scaling – Crypto News
-
Blockchain5 days ago
How to Use Google Gemini to Turn Crypto News Into Trade Signals – Crypto News
-
others5 days ago
Breaking: Polymarket Reenters US Market With Exchange Acquisition As Probe Ends – Crypto News
-
Blockchain4 days ago
Strategy to keep STRC Fund Pegged to $100 – Crypto News
-
Blockchain4 days ago
XRP Could Skyrocket 500% Against Bitcoin, Analyst Warns – Crypto News
-
De-fi1 week ago
U.S. Marshals Peg Federal Bitcoin Holdings at 28,988 Tokens Worth $3.4 B – Crypto News
-
Blockchain1 week ago
Nasdaq Exchange Files SEC Form to List Staking Ethereum ETF – Crypto News
-
Cryptocurrency1 week ago
Ethereum price surges 6% to $2,800 as shorts suffer amid $500M crypto liquidation – Crypto News
-
Cryptocurrency1 week ago
Friday charts: Fiscal dominance and super intelligence – Crypto News
-
De-fi1 week ago
Trump’s Crypto Assets Now Comprise a Key Part of Family Fortune Worth Billions – Crypto News
-
Business7 days ago
Pi Coin Price Technical Analysis Confirms Buy Signal Despite 2M Exchange Inflows – Crypto News
-
Technology7 days ago
Not Google or Bing! This search engine lets you block AI images in search results – Crypto News
-
Cryptocurrency7 days ago
GENIUS Act Is The Catalyst For XRP And RLUSD’s Dominance, Expert Declares – Crypto News
-
De-fi6 days ago
Nasdaq Files to Add Staking to BlackRock’s ETH ETF – Crypto News
-
Cryptocurrency5 days ago
Ethereum Shatters Inflow Records, Pulls in $2.12 Billion in a Week – Crypto News
-
Cryptocurrency5 days ago
Solana Clinches 5-Month High, Where to From Here? – Crypto News
-
Blockchain4 days ago
Crypto Needs Minimum Viable Decentralization – Crypto News
-
Blockchain1 week ago
TON’s Next Stop Could Be $3.50, Here’s Why – Crypto News
✓ Share: