Shibburn Data Reveals Significant SHIB Token Burn
According to reports, Shibburn data shows that a total of 23511138 SHIB tokens have been destroyed in the past 24 hours. In the past 7 days, a total of 2785348796 SHIB tokens have been destroyed.
More than 2.785 billion SHIBs have been destroyed in the past seven days
Analysis based on this information:
Recently, Shibburn data released a report stating that a significant number of SHIB tokens have been burned. Over the past 24 hours, a total of 23511138 SHIB tokens have been destroyed. This is a large number of tokens lost in one day. Furthermore, in the past 7 days, a total of 2785348796 SHIB tokens have been destroyed.
This news is not unexpected since token burning has become a common practice in the cryptocurrency world recently. Token burning is the process of destroying tokens, usually by sending them to an unusable public address or a so-called burn vault. This process helps reduce the supply of a particular cryptocurrency, increasing its value over time. When there are fewer tokens in circulation, it often makes them more valuable, which can attract new investors.
In the case of SHIB tokens, the burning of such a large number in just a week implies there is a high demand for the cryptocurrency. With the reducing supply of SHIB tokens, their value will potentially rise. Token burning can also increase a cryptocurrency’s credibility and raise investor confidence levels.
However, this news should also come with a warning for those interested in investing in SHIB tokens. Token burning may increase the value of tokens in circulation, but it can also reduce their liquidity. A decrease in liquidity means there may be fewer traders in the marketplace ready to buy and sell SHIB tokens. Therefore, it is possible that SHIB token holders may suffer if they cannot find a buyer or seller when they need one.
In conclusion, Shibburn has shown a significant number of SHIB tokens being burned over the past few days. This action may lead to an increase in the value of the remaining tokens as the number in circulation decreases. Nonetheless, investors should be cautious and mindful of the liquidity of SHIB tokens before investing in them.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/7995.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
What are Bitcoin physical objects made of? (Is Bitcoin a real object?)
What are Bitcoin physical objects made of? According to Cointelegraph, the Unit
-
MEV Robot Attacked Due to Relay Vulnerability: An Analysis
According to reports, slow fog analysis shows that the reason for the MEV robot being attacked yesterday was that even if the beacon block was incorrect, the relay still returned t
-
When does the ETH D pool transfer funds (how long can ETH be withdrawn)
? When making deposits and withdrawals on Ethereum, the ETH pledged on ETH is entered into the black hole contract address (white list) and sent to the exchange Due to the current ETH holder waiting for ETH to fork out a new ETH, users can withdraw coins through ETH to another wallet (possibly with a new ETH address) However, it should be noted that there is only one ETH account in the ETHD pool at risk. If there is no security audit and the security of the transaction cannot be guaranteed, the account should temporarily close the deposit funds and restart its ETH withdrawal platform. (Note: It was previously reported that Ethereum Classic officially announced that it would entrust 32 ETH nodes twice a day from November 13, and each verifier must pledge more than 1000 ETHs to become a beacon chain verifier.) How long can ETH withdraw cashIt is reported that according to the data of OKLink, the contract…
-
Coinbase stops supporting Signet, a digital payment platform for signing banks
On March 21, Coinbase said that it had stopped supporting Signature Bank\’s digital payment platform, Signet, more than a week after the US regulatory authority took over Signature
-
Dubai’s DMCC partners with South Korean Metaspace to promote Web3 expansion globally
According to reports, sources have revealed that the Dubai Multi Commodities Center (DMCC) recently announced the signing of two memorandums of understanding with a South Korean Metaspace platform, planning to establish a partnership to promote the expansion of the United Arab Emirates’ Web3 business globally. DMCC was established in 2002 as the largest free trade zone in the United Arab Emirates; In 2021, the government launched the DMCC Encryption Center, which is an integrated ecosystem for enterprises in the encryption and blockchain fields. Data shows that the United Arab Emirates is the most concerned encryption country among all Middle East and North African countries. （news.todayq） DMCC of the United Arab Emirates cooperates with Won Universe of Korea Analysis based on this information:The Dubai Multi Commodities Center (DMCC) recently announced a partnership with a South Korean Metaspace platform to promote the expansion of the United Arab Emirates’ Web3 business globally. The DMCC, established in 2002 as the largest free trade zone…
-
Mike Novogratz: I don’t want Bitcoin to reach $1 million
According to reports, Galaxy Digital founder Mike Novogratz stated in a recent interview that he does not want Bitcoin prices to reach $1 million. Specifically, he criticized a rec
-
Mirror World Receives Strategic Investment from Alchemy Ventures Pre A
On April 12th, the Web3 application development platform Mirror World announced that it had received a round of strategic investment from Alchemy Ventures Pre A.
Mirror World won A -
Coinbase Expands Support for LSETH on Ethereum Network
According to reports, Coinbase announced that it would increase support for Liquid Stacked ETH (LSETH) on the Ethereum network (ERC-20 token). If the liquidity…
-
Continued Surge in Trading Volume of Bitcoin and Ethereum Derivatives
According to reports, the data showed that the trading volume of derivatives of Bitcoin and Ethereum in US dollars continued to rise in February. The trading v…
-
What currency is zcash (what currency is zoc)
. However, after this hard fork was rejected by the Zcash community and the issue was resolved, a second hard fork was conducted in early November 2020- the hard fork in June 2015 was confirmed; At the end of January 2018, the halving of block rewards occurred at the end of 2018, and miners will no longer have digital currency rewards dug up for them; And now, Zcash has become a very popular presence. But what currency is zCash? It is related to privacy, as its code is open source and can be modified and updated at any time, so its value cannot be estimated What currency is zocAccording to the official information of zcash, zoc is a Cryptocurrency. Specifically, the coin was issued by ZCoin, a decentralized autonomous organization (DAO) that primarily provides community governance and reward functions The most important part is to enable holders to vote on the development direction of the agreement, such as supporting activities…