- Alas! The reserves of our dear Shiba Inu have plummeted to a woeful low of 96.6 trillion.
- In a frenzy most extraordinary, the SHIB burn rate has soared by 49,552%, with 13.29 million of these spirited pups banished forever from circulation.
Our beloved Shiba Inu [SHIB] appears to be exhibiting signs of quite a profound weakness, having suffered a decline of over fifty percent from its once-glorious 9.40% weekly gain, whilst trading volume has taken a dramatic plunge of fifty percent, much like Mrs. Bennet’s spirits upon hearing of another lost fortune! 😱
Though this retreat seems to be in keeping with a broader market correction (those scoundrels!), the on-chain data unravels a tale of long-term holders racing towards the exits. Furthermore, CryptoQuant’s data delineates a precipitous drop of reserves upon various exchanges—oh, the humanity!
With SHIB now languishing more than eighty percent below its all-time high (ATH), one might ponder whether its reign among the memecoins is under threat. Could it be at risk of relinquishing its lofty position as the second-largest memecoin? We can only await the outcome with bated breath! 😅
Shiba Inu exchange reserve descends to a woeful low
As revealed by the astute analysts at CryptoQuant, the reserves of Shiba Inu upon exchanges have encountered a most dramatic decline.
The aggregate SHIB reserve has fallen to a lamentable 93.5 trillion as opposed to the excessively grandiose 135.4 trillion reported in the balmy days of January 2025.
An examination of historical data reveals the stark reality: in the fair month of April in 2022, nearly 200 trillion SHIB—almost half of the circulating supply—found refuge upon these exchanges. By February 2024, this number diminished to a dismal 165.8 trillion.
This disheartening descent in reserves closely mirrors a substantial collapse in value. Since the tumultuous month of December 2024, SHIB has withered away over sixty percent of its worth, diminishing from $0.0000329 to a recent nadir of $0.000013—how tragic! 😭
In an additional twist most grievous, the knowledgeable sages at Glassnode have unveiled yet another pivotal trend. Holders of Shiba Inu from the year 2021 managed to accumulate over twenty percent of the supply at remarkably low prices, only to offload at peaks most opportune. Such exodus has precipitated sharp corrections, much like a most unfortunate folly! 😬
As both custodian holders and retailers bid adieu, large holders, those rapscallions, have increased their accumulation. Presently, five mighty whales preside over 58.38% of SHIB’s circulating supply, collectively hoarding an astonishing 574.83 trillion SHIB! 🐋
SHIB burn rate and the abyss of cold storage
Whilst the reserves of Shiba Inu upon exchanges stand at abysmal lows, another key metric has erupted with vigor—the burn rate!
In the last twenty-four hours, the SHIB burn rate has skyrocketed by a remarkable 49,552%, with 13.29 million SHIB dispatched to oblivion, as reported by our most esteemed Shibburn. 🥳
Remarkably, one single whale engaged in the act of burning 12.13 million SHIB in but a solitary transaction. Enviable efficiency, indeed!
Only days prior, another magnificent conflagration resulted in 503.3 million SHIB being sent into the ether, including a remarkable transfer of 459.3 million SHIB in a singular motion, fueling the burn rate to an astounding 27,660%. 🔥
As the exchange reserves dwindle and the burn rates climb, SHIB holders are turning to the still-cooled embrace of cold storage whilst actively diminishing supply. Should demand persist, these trends could herald a bright future for SHIB’s value—even if it may seem whimsical at best!
In our quest for a titillating recovery, the movement of whales has graced our attention as never before. An increase in inflows could herald a potential bottom for SHIB, presenting an alluring opportunity to scoop up this dip—if one possesses the courage of spirit befitting of a true Austen heroine! 💁♀️
Read More
- Invincible Season 4: What We Know About Release Date and Plot Speculation!
- MNT PREDICTION. MNT cryptocurrency
- KAS PREDICTION. KAS cryptocurrency
- EUR JPY PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- USD MXN PREDICTION
- IMX PREDICTION. IMX cryptocurrency
- Biden’s SEC to DeFi Founders: You’re Banned from Crypto—For Life!
2025-03-18 14:19