As more SHIBs were burned during the past seven days, the weekly burn rate for Shiba Inus somewhat increased.
https://x.com/shibburn/status/1705794956672053469?s=20
The Shibburn project tweeted a graphic that showed a specific increase in the Shiba Inu weekly burn rate of 37.14%.
75 transactions totaling 782,347,341 SHIB tokens burnt over the previous seven days. This is worth $5,797 in dollars.
Only 570,455,129 SHIB, or almost half a billion, were seen by Shiba Inu in the previous week. Shiba Inu had an increase of 212 million tokens burned compared to the previous week, burning 782 million SHIB.
The daily burn rate has decreased by over 67%, which suggests that less SHIB is being burned each day. Only 79,598,642 SHIB tokens—worth a pitiful $589—were destroyed in 11 transactions during the past 24 hours.
Shiba Inu volumes jump 100%
Shiba Inu trading volume has increased 100% in the past 24 hours, according to statistics from CoinMarketCap, as traders continue to place bets on the SHIB price.
In the previous day, there were 18,780,662,117,246 SHIB exchanged for a total of $138 million, increasing trading volume.
On September 23, Shiba Inu rose to a high of $0.0000077, building on the day before’s gains, but bulls were unable to maintain the pace.
SHIB had reduced some of its intraday gains at the time of writing and had slightly increased over the previous day to reach $0.0000073.
Shiba Inu is still trading within a range; but, a break above the daily moving averages 50 and 200, which are at $0.0000082 and $0.0000088, might indicate a breakthrough from this range.
Bulls could need more time to consolidate before making the next big move, as the daily RSI is just below the neutral 50 mark.
