Shib Burn Rate Spikes 231% as 187 Million SHIB Sent to Dead Address

u.todayPublished on 2022-07-11Last updated on 2022-07-11

Abstract

Aside акщь this, millions of SHIB have been sent to dead wallets in different transactions in recent hours.

Per the Shibburn website, the burn rate of Shiba Inu has considerably increased by nearly 231%. A portion—that is 196,820,007 SHIB tokens—was destroyedб and 25 transactions being made were reported by the Shibburn Twitter account about 10 hours ago.
In the past 24 hours, there have been a total of 196,820,007 $SHIB tokens burned and 25 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) July 10, 2022
Aside акщь this, millions of SHIB have been sent to dead wallets in different transactions in recent hours.

Shib Burn Rate, Courtesy: Shibburn Shiba Inu community member "Gossip SHIB" believes daily constant burns might be needed to push Shiba Inu prices in the long run.
$SHIB ATH happened due to adoption with almost zero burn rate.
Burns will help a lot, but we need daily constant burns.
Shytoshi once said Shibaswap 2 will be huge answer ..
- Burnportal happened ✅
- burns per transaction (??? dk)
-Blockchain Game (??? dk)
-MV (?)
— Lucie Sasinkova (@GossipShib) July 9, 2022
Expectations also remain on incoming projects such as the SHI stablecoin, which SHIB lead developer Shytoshi Kusama stated might launch in 2022. According to recent updates shared by Unification, Shibarium beta phase might launch in Q3, 2022.
Shiba Inu price might be primed for short-term move
At the time of publication, SHIB was trading down 3.53% at $0.000011.
The relative strength index, a momentum indicator, might suggest that the Shiba Inu price is poised for a short-term move. The indicator is currently above the neutral mark of 50, marking "55," which suggests an edge to the buyers in the meantime. Shiba Inu is also trading above the prior short-term barrier at $0.000010. If buyers emerge at current prices, the next major resistance remains at $0.000021. In the case of declines, SHIB might retest the support at $0.000010.
JUST IN: $ANKR @ankr now on top 10 by trading volume among 100 biggest #ETH whales in the last 24hrs 🐳
We've also got $NU, $AXS, #FTX Token, $SHIB & $WOO on the list 👀
Whale leaderboard: https://t.co/N5qqsCAH8j #ANKR #whalestats #babywhale #BBW pic.twitter.com/nprLOT71Ff
— WhaleStats (free data on crypto whales) (@WhaleStats) July 10, 2022
According to WhaleStats data, Shiba Inu ranks among the top seven most purchased assets by the top 2,000 ETH whales. On July 8, a crypto whale bought a staggering 1 trillion SHIB in four massive transactions of about 250 billion SHIB.
Shiba Inu also ranked among the top 10 in trading volume among the top 100 and 5,000 ETH whales.

Trending Cryptos

CitreaCTR

wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

BrevisBREV

ZRX（0X）ZRX

BlackRock Launches Covered-Call Bitcoin ETF Under BITA Ticker

BlackRock has launched the iShares Bitcoin Premium Income ETF (ticker: BITA), a new bitcoin product that generates income using a covered-call options strategy linked to its iShares Bitcoin Trust (IBIT). Unlike a plain spot bitcoin ETF, BITA aims to provide monthly income by selling call options, offering investors a yield-focused alternative to direct bitcoin holdings or DeFi protocols. This strategy involves a trade-off: it can perform well in sideways markets by collecting premiums but may underperform pure spot bitcoin during strong rallies. The launch signals the evolution of the bitcoin ETF market beyond simple access products toward sophisticated strategies like income generation and hedging. BITA is targeted at investors and advisors who believe in bitcoin's long-term thesis but seek a smoother, income-oriented product within a traditional brokerage account. It is not a replacement for spot bitcoin exposure but rather a different tool that packages bitcoin's volatility into a strategy familiar to traditional markets. Understanding this trade-off is crucial for evaluating its performance, especially during major bitcoin price increases.

bitcoinist22m ago

BlackRock Launches Covered-Call Bitcoin ETF Under BITA Ticker

bitcoinist22m ago

David Schwartz Backs XRP Ledger 3.2.0 Upgrade With Major XRPL Hub Move

David Schwartz, co-creator of XRP Ledger and Ripple's CTO, has moved a major XRPL hub to version 3.2.0, a transition completed in under ten minutes. This upgrade follows the ledger's core software being renamed "xrpld" to distinguish it from Ripple. Key improvements include up to 40% better memory optimization and the fixCleanup3_2_0 amendment, enhancing security for features like vaults and decentralized exchanges. The update also introduces new tools for developers and invariant checks for ledger integrity. Concurrently, network governance updates include changes to the Unique Node List. The move underscores the commitment to maintaining the latest software across the XRPL ecosystem.

TheNewsCrypto1h ago

David Schwartz Backs XRP Ledger 3.2.0 Upgrade With Major XRPL Hub Move

TheNewsCrypto1h ago

Why Is the World Nervous About Japan Raising Interest Rates?

In June 2026, the Bank of Japan raised its policy rate to 1%, marking its first hike to this level since 1995. While this rate remains low compared to global peers like the US and Europe, the move signals a profound shift for a nation that has been a global source of ultra-cheap funding for decades. Japan's long-standing near-zero or negative interest rates had facilitated massive "yen carry trades," where international investors borrowed low-cost yen to invest in higher-yielding assets worldwide, such as US tech stocks and emerging market bonds. This made Japan a critical, often overlooked, source of global liquidity. Japan's ultra-loose policy stemmed from structural challenges post-1990s asset bubble: aging demographics, chronic low inflation/deflation, and high public debt. Recent shifts, including sustained wage growth (exceeding 5% in recent years) and inflation consistently above the 2% target, have created a "wage-price spiral" possibility, prompting the policy normalization. The global market's concern lies not in the absolute rate but in the potential unwinding of the yen carry trade. As Japanese borrowing costs rise, the economics of these leveraged global investments change, potentially triggering deleveraging and capital outflows from risk assets. Market anxiety focuses on the end of a thirty-year consensus that Japan would perpetually provide cheap funding. Ultimately, the global impact will depend on the interplay with US monetary policy. While Japan is tightening, the significant interest rate differential with the US remains. The key future dynamic is whether simultaneous Japanese hikes and eventual US rate cuts will narrow this gap, forcing a major recalibration of global capital flows and asset pricing built on an era of abundant, cheap yen liquidity.

marsbit2h ago

Why Is the World Nervous About Japan Raising Interest Rates?

marsbit2h ago

Congress Advances CBDC Ban Until 2030 Through Major Housing Reform Bill

Congress has passed the 21st Century Road to Housing Act, a bipartisan bill primarily focused on housing reform to improve affordability and supply. Included within it is a significant provision that bans the Federal Reserve from issuing a central bank digital currency (CBDC) or "digital dollar" before December 31, 2030. The measure defines a CBDC as a dollar-denominated digital asset, a direct liability of the Fed, accessible to all Americans. Proponents argue the ban allows more time to study a digital dollar's impacts and addresses concerns about privacy, financial surveillance, and government overreach in digital payments. The provision specifically targets a retail CBDC but does not restrict permissionless blockchain networks. This crypto-related language, embedded in broader housing legislation, has drawn considerable attention for its potential to shape the future of digital assets and payments in the U.S. The bill's final passage will determine if the ban takes effect for the next decade.

TheNewsCrypto2h ago

Congress Advances CBDC Ban Until 2030 Through Major Housing Reform Bill

TheNewsCrypto2h ago

Research Report Analysis: MRVL's Optical AI Booming, Why High Valuation Keeps Morgan Stanley's Star Analyst Sidelined?

Report Recap: MRVL Optical AI Boom - Why High Valuation Led Morgan Stanley's Star Analyst to Stay Neutral? Morgan Stanley analyst Joseph Moore maintained an "Equal-weight" (Neutral) rating on Marvell Technology (MRVL) on May 28, raising the price target from $172 to $195, below the trading price. This stance comes despite Marvell reporting a record quarter and significantly raising its full-year outlook (FY27 revenue ~$11.5B, up ~40%). Moore's neutral view is based on valuation. The $195 target implies ~40x CY2027 P/E. He contrasts MRVL with NVDA: both trade near ~$200, but Nvidia's forward EPS is more than double Marvell's. For MRVL's valuation to hold, it needs consistent earnings upgrades, proof of networking market share gains, or certainty on large-scale custom AI chip shipments—none of which are confirmed yet. Growth is driven by two pillars: **1) Optical Interconnect** (the faster runner): Moore raised FY27 growth expectations to >70%, with the optical module product line nearing a $1B annualized run rate. **2) Custom AI Chips** (the climber): Confidence in FY28 is growing, but a major new customer project only ramps in FY28, with no current revenue visibility. Key risks are the underperforming Storage, Enterprise, and legacy Networking segments. Moore acknowledges the real AI opportunity but believes the current price already reflects it. For the stock to work from here, investors need to see the optical business hit its targets, custom chips ramp as planned, and a recovery in the weaker business units.

marsbit3h ago

Research Report Analysis: MRVL's Optical AI Booming, Why High Valuation Keeps Morgan Stanley's Star Analyst Sidelined?

marsbit3h ago

Trading

Spot

Futures

Hot Articles

How to Buy SHIB

Welcome to HTX.com! We've made purchasing SHIBA INU (SHIB) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy SHIBA INU (SHIB) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your SHIBA INU (SHIB)After purchasing your SHIBA INU (SHIB), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade SHIBA INU (SHIB)Easily trade SHIBA INU (SHIB) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

11.1k Total ViewsPublished 2024.03.29Updated 2026.06.02

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of SHIB (SHIB) are presented below.