Cryptocurrency on the theme of dogs Shiba Inu Recently experienced a remarkable increase in its burning rate, a strategy aimed at reducing the total shib supply while potentially increasing long -term value. However, after an increase period, the burning rate of Shiba Inu has now taken a break, settling at only 1.97% in the last 24 hours.
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According to the Shibburn x account15,050,787 Shib have been burned in the past 24 hours, marking a 1.97% increase in daily shib burns. The day before has seen an increase of 795.3% of the burning rate, while the last seven days have seen 94,207,386 shib burned, contributing to an increase of 59.37% in this period of time.
With a substantial quantity of sampon burned in the last seven days, the decrease in daily burning rate could be a temporary sniff in market dynamics stands.
Given this, the Shiba Inut community closely monitors burns events, waiting to see a return to aggressive shib burns.
Market momentum stands
Depending on the main data supplier on the chain Glass noseThe momentum of the market slowed down after an attempt to push Bitcoin to discover prices. Bitcoin has dropped 5.9% since February, while ETH and Sol decreased by 16.9% and 33.1%, respectively.
The pieces even, which climbed 90.2% at the end of 2024, experienced the greatest drop, down 37.4%, coinciding with a drop in open interest.
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According to Glassnode, the term contracts have opened up interest through the memes parts sector have dropped considerably since their peaks. Open interest is the total number of term contracts or current options on a market. It indicates current commercial activity and speculative behavior on the market. It can also be used to determine the liquidity of the market.
According to a recent Glassnode analysis, the mobile average at the opening of Doge Futures open of seven days dropped by 58.45%, compared to $ 3.58 billion on December 9, 2024, to $ 1.49 billion. Other coins have done in the same way; Shib, although with a lower total OI, also experienced decreases. The open interests of SHIB dropped from 74.41%, from $ 323 million to $ 83 million. This can point to take advantage of the widening, but also to report a change of feeling through the sector of memes parts.
At the time of writing the editorial staff, SHIB dropped by 0.06% in the last 24 hours to 0.00001545 and down 4.73% per week. Shib has decreased by more than 18% so far in February.