{"id":185268,"date":"2023-11-01T20:13:12","date_gmt":"2023-11-01T14:43:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=185268"},"modified":"2023-11-01T20:13:12","modified_gmt":"2023-11-01T14:43:12","slug":"shib-price-rally-incoming-massive-1-5-billion-shiba-inu-tokens-burned-in-october-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/shib-price-rally-incoming-massive-1-5-billion-shiba-inu-tokens-burned-in-october-crypto-news\/","title":{"rendered":"SHIB Price Rally Incoming? Massive 1.5 Billion Shiba Inu Tokens Burned in October &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li><strong>SHIB\u2019s October Burn<\/strong>: Shiba Inu destroyed over 1.4 billion tokens with a notable day on October 28, but this burn rate was 37% less than September. The process correlated with a 5% SHIB price increase in a week.<\/li>\n<li><strong>Performance Insights<\/strong>: SHIB saw a 12% rise over two weeks.<\/li>\n<li><strong>Shibarium\u2019s Impact<\/strong>: The recently launched Shibarium scaling solution has already achieved significant milestones, potentially influencing SHIB\u2019s price further.<\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2023\/11\/SHIB-Burn-3.jpg\" data-wpel-link=\"internal\"><\/a><\/span><\/h2>\n<h2>SHIB\u2019s Massive Burn Rate in October<\/h2>\n<p><span data-preserver-spaces=\"true\">According to Shibburn, the popular memecoin Shiba Inu saw over 1.4 billion assets destroyed throughout the previous month. The record day was October 28, when more than 250 million SHIB were sent to an address that nobody could access.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite the impressive numbers, last month\u2019s burn rate was actually 37% lower than the one observed in September.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udd25\ud83d\udd25\ud83d\udd25 1,461,135,923 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">$SHIB<\/a> tokens have been burned in the month of October with 753 transactions. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/SHIB?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">#SHIB<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/fw6g9DQaOy\" data-wpel-link=\"external\">pic.twitter.com\/fw6g9DQaOy<\/a><\/p>\n<p>\u2014 Shibburn (@shibburn) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/shibburn\/status\/1719565584847782193?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">November 1, 2023<\/a><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">The successful execution of the program has been viewed as a bullish factor that could propel a price rally for Shiba Inu\u2019s native token. SHIB has spiked approximately 5% in the last seven days and 12% on a two-week basis (per CoinGecko).<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What About Shibarium\u2019s Role?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Another element that might act as a catalyst for SHIB\u2019s price increase could be the further advancement of the layer-2 scaling solution Shibarium. The network\u00a0<\/span><a rel=\"nofollow noopener\" target=\"_blank\" class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/shiba-inus-shibarium-officially-live-but-shib-price-suffers\/\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">saw the light of day<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0approximately two months ago and has already blasted through several important milestones.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As\u00a0<\/span><em><span data-preserver-spaces=\"true\">CryptoPotato<\/span><\/em><span data-preserver-spaces=\"true\">\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/shiba-inu-shib-reaches-another-bullish-milestone-details\/\" data-wpel-link=\"internal\">reported<\/a>, total transactions have\u00a0<\/span><span data-preserver-spaces=\"true\">surpassed<\/span><span data-preserver-spaces=\"true\"> 3.5 million, whereas wallet addresses are inching towards 1.3 million. More information about Shibarium\u2019s purposes and specifics can be found in the video below:<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"What Is Shibarium? Everything You NEED To Know About Shiba Inu&#039;s Blockchain\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/rYzZWZqXspo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0;clear: both\">\n<div><span style=\"font-size:11px;color: gray\">SPECIAL OFFER (Sponsored)<\/span><br \/>\n<b>Binance Free $100 (Exclusive): <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>).<\/p>\n<p><b>PrimeXBT Special Offer: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" data-wpel-link=\"internal\">Use this link<\/a> to register &amp; enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR SHIB\u2019s October Burn: Shiba Inu destroyed over 1.4 billion tokens with a notable day on October 28, but this burn rate was 37% less than September. The process correlated with a 5% SHIB price increase in a week. Performance Insights: SHIB saw a 12% rise over two weeks. Shibarium\u2019s Impact: The recently launched Shibarium [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":185269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-185268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=185268"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185268\/revisions"}],"predecessor-version":[{"id":185275,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185268\/revisions\/185275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/185269"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=185268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=185268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=185268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}