<\/p>\n
- \n
- Shiba Inu\u2019s daily burn rate crossed 50%.<\/span><\/em><\/li>\n
- SHIB continued to trend below the neutral line as the price uptrend halted.<\/span><\/em><\/li>\n<\/ul>\n
In the last 24 hours, Shiba Inu [SHIB]<\/a> experienced a rise in its burn rate, but its price and weekly burn rate remained under pressure at press time.<\/span><\/p>\n
\nIs your portfolio green? Check out the SHIB Profit Calculator<\/a><\/p>\n
\nShiba Inu burn sees mixed burn rates<\/b><\/h4>\n
As of 22 October, Shiba Inu\u2019s<\/a> burn statistics revealed a substantial surge in the token\u2019s burn rate, which reached 53.5% at the time of this report.<\/span><\/p>\n
\n
HOURLY SHIB UPDATE$SHIB<\/a> Price: $0.00000699 (1hr -0.22% \u25bc | 24hr -0.12% \u25bc )
Market Cap: $4,123,898,173 (-0.17% \u25bc)
Total Supply: 589,338,711,703,140<\/p>\nTOKENS BURNT
Past hour: 378,563 (1 transaction)
Past 24Hrs: 29,520,501 (54.95% \u25b2)
Past 7 Days: 277,690,890 (-2.3% \u25bc)<\/p>\n\u2014 Shibburn (@shibburn) October 22, 2023<\/a><\/p>\n<\/blockquote>\n
This increase in burn rate marked a positive development, particularly in light of the recent decline in the weekly burn rate, which stood at -2.5% as of the same point in time. The negative weekly burn rate indicated a decrease in burns when compared to the previous week.<\/span><\/p>\n
The heightened daily burn suggested a potential for the weekly burn rate to improve in the near future. Additionally, factors such as the token\u2019s price may also contribute to enhancing the overall burn rate.<\/span><\/p>\n
SHIB veers off the march to bullish trend<\/b><\/h4>\n
On a daily timeframe, SHIB displayed a notable trend of three consecutive days of price increases, with the most recent increase exceeding 2%. Nevertheless, at the time of this report, the price trend had stalled, and the asset was trading with a slight loss of less than 1%.\u00a0<\/span><\/p>\n
![\"Shiba](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIBUSDT_2023-10-22_12-45-05.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
Before this recent decline in price, SHIB<\/a> was approaching the threshold for transitioning to a bullish trend, as suggested by its Relative Strength Index (RSI). However, it\u2019s worth noting that the RSI still registers below the neutral line, signaling a bearish trend in the asset\u2019s performance.<\/span><\/p>\n
Shiba Inu trading volume gives hope of higher burns<\/b><\/h4>\n
According to Santiment\u2019s volume metric, Shiba Inu<\/a> recently experienced an upward trend in its daily trading volume. Following a drop in volume observed on 21 October, SHIB rebounded and crossed the $100 million volume threshold.<\/span><\/p>\n
\n - SHIB continued to trend below the neutral line as the price uptrend halted.<\/span><\/em><\/li>\n<\/ul>\n
![\"Shiba](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIBA-INU-SHIB-13.10.24-22-Oct-2023.png\")