Shiba Inu is navigating a calm crypto market following October’s $19 billion liquidation event, with its price down 13.61% this month amid low volatility and mixed sentiment. The SHIB token hovers in a tight range, while the community receives messages of resilience and scam warnings from the team.
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Market Volatility Stalls: After a historic sell-off wiping out $19 billion in leveraged positions, the crypto market shows reduced volatility, with Shiba Inu holding steady between $0.00001009 and $0.00001026.
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Shiba Inu Burn Rate Declines: In the last 24 hours, the burn rate dropped 97.07%, with only 102,742 SHIB tokens burned, signaling reduced token removal activity.
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Community Support and Alerts: Shiba Inu team member Lucie shares motivational words, while watchdogs like Susbarium warn against scam sites impersonating official platforms, potentially draining user wallets.
Discover how Shiba Inu fares in the post-sell-off crypto calm, with price analysis, burn rate updates, and essential scam prevention tips to safeguard your SHIB holdings today.
What is the Current State of Shiba Inu in the Crypto Market?
Shiba Inu is experiencing a period of stabilization in a broader crypto market that has settled into calm after a significant October sell-off. This event led to the liquidation of $19 billion in leveraged positions, marking one of the most intense market corrections recently observed. Despite the monthly decline of 13.61% for SHIB, the token has shown resilience by maintaining a narrow trading range, reflecting cautious investor sentiment as indicated by the Crypto Fear and Greed Index remaining in the fear zone.
How Has Shiba Inu’s Burn Rate Impacted Its Price Recently?
The Shiba Inu burn rate has seen a sharp decline, which could influence long-term price dynamics by slowing the token’s deflationary mechanism. In the past 24 hours, burns fell by 97.07%, totaling just 102,742 SHIB tokens removed from circulation, according to data from Shibburn. Over the weekly period, the burn rate decreased by 89.15%, highlighting a slowdown in community-driven efforts to reduce supply. This metric, while not the sole driver of price, contributes to perceptions of reduced scarcity pressure on Shiba Inu. Experts note that sustained low burn activity might prolong price recovery if not offset by increased adoption or market inflows. For context, historical burn peaks have coincided with price surges, underscoring the importance of this indicator in meme coin ecosystems like SHIB’s.
Shiba Inu’s price recovery from its October 22 low of $0.00000961 stalled at $0.00001034 on October 24, leading to fluctuations within a tight $0.00001009 to $0.00001026 range. This sideways movement aligns with the overall market’s slow grind higher, but underlying sentiment remains cautious. The Crypto Fear and Greed Index’s persistence in the fear territory suggests investors are hesitant to commit fully, potentially weighing on Shiba Inu‘s momentum.
Bears continue to challenge Shiba Inu, attempting to push its value lower amid broader crypto adjustments. However, the token’s community remains a key pillar of strength, fostering engagement through creative content and vigilant security measures. This grassroots support has historically helped SHIB weather market storms, as seen in past recoveries following major dips.
Frequently Asked Questions
What Caused the Recent Shiba Inu Price Decline in October?
The Shiba Inu price dropped 13.61% in October due to a historic market sell-off that liquidated $19 billion in leveraged bets across cryptocurrencies. This event triggered widespread volatility, pulling meme coins like SHIB into the downturn as investor confidence waned, according to market analysis from platforms tracking liquidation data.
Is the Shiba Inu Community Safe from Current Scams?
The Shiba Inu community should stay vigilant against scams mimicking official platforms like Shibaswap, which aim to drain wallets by tricking users into connecting funds. Watchdog groups such as Susbarium have issued alerts about these malicious sites, recommending that holders verify URLs and avoid unsolicited connections to protect their assets effectively.
Key Takeaways
- Market Calm Post-Sell-Off: The crypto sector, including Shiba Inu, is in a low-volatility phase after October’s massive liquidations, offering a potential setup for gradual recovery if sentiment improves.
- Declining Burn Rates: With a 97.07% drop in 24-hour SHIB burns, token scarcity efforts have slowed, which may delay price appreciation without renewed community action.
- Community Resilience: Messages from Shiba Inu team members emphasize building strength through support and creativity, while scam warnings highlight the need for proactive security to sustain the ecosystem.
Conclusion
In summary, Shiba Inu is holding steady amid a calm crypto market recovery following October’s liquidation turmoil, with its burn rate declines and scam threats underscoring the importance of community vigilance. As sentiment gradually shifts, SHIB holders can look forward to potential upside if broader market conviction builds. Stay informed and engaged to navigate these dynamics, ensuring long-term positioning in the evolving world of meme coins.
