burning

Crypto Burning means permanently removing coins or tokens from circulation so that they can never be used again. This process helps reduce the total supply of a cryptocurrency, which can increase its scarcity and potentially raise its market value over time.
Here’s how it works 👇
1. Transfer to a Burn Address:
The project team or network sends coins to a special wallet called a burn address (or dead wallet) that has no private key, meaning no one can ever access those coins again.
2. Proof of Burn:
The transaction is recorded on the blockchain, so everyone can verify that the coins have been burned.
3. Purpose of Burning:
To control inflation in the token supply.
To increase value by making coins rarer.
To reward holders by boosting token price.
To maintain balance between supply and demand.
4. Examples:
Shiba Inu (SHIB) regularly burns tokens to reduce supply.
BNB (Binance Coin) conducts quarterly burns.
$SHIB
#wmk #burning #ToTheMoon🌕✨

Memecoin Bonk, inspired by dog-themed memes, faces a significant decline despite a massive token burn event that removed 1.69 trillion tokens worth over $51 million from circulation. The event, known as BURNmas, failed to prevent the cryptocurrency's price drop.
Delayed BURNmas Execution
The Bonk team originally planned to conduct the token burn on Christmas Day, December 25, but delays pushed the event to the following day, December 26. The initiative was part of a marketing campaign that included:
Burning 1,000 BONK tokens for every post on the X platform (formerly Twitter) with the hashtag #LetsBONK.Burning 10,000 BONK tokens for every new follower on Instagram and TikTok.
Initially set to burn 1 trillion tokens, the community's support allowed the burn to reach 1.69 trillion tokens, representing 1.85% of the total supply, which now stands at 90.97 trillion tokens, according to CoinGecko data.

Why Is BONK's Price Falling?
Token burns are typically employed as a strategy to increase value by reducing supply. However, BONK has failed to replicate its November success, where a similar event saw prices soar by 56% and market capitalization reach an all-time high of $4.38 billion.
Following the December 26 burn event, BONK's price dropped by 7.2%, amid a broader market decline. Its market capitalization now stands at $2.3 billion.
Community Frustration
The delay in the BURNmas event has sparked frustration within the BONK community. Some users voiced concerns over the team's lack of communication.
A user on X, BestBets, directed criticism toward a Bonk team member known as “Nom”:
“Prices keep dropping because you guys don't keep your word and fail to communicate,” said BestBets.
“Lying to the community will cost you progress and coin holders,” added another user, PootieCoin.

BONK Still Among Top Memecoins
Despite the decline, BONK remains the fourth-largest memecoin by market capitalization, totaling over $105 billion. Its competitors include Dogecoin, Shiba Inu, and Pepe, according to CoinGecko data.

#Bonk , #Memecoins🤑🤑 , #CryptoNewss , #burning , #PricePredictions2024

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Shiba Inu $SHIB community has witnessed a massive spike in its token burn rate, with more than 102,261,199 SHIB permanently removed from circulation in just the past week. This represents a 388% increase compared to earlier burn activity, highlighting renewed community and investor efforts to reduce supply and boost scarcity.

The most significant single burn took place three days ago, when a staggering 85,795,990 $SHIB was sent to a dead wallet—effectively removing it from the ecosystem forever. Such large-scale burns have become a recurring strategy for SHIB supporters, who believe supply reduction will strengthen the token’s long-term value.

Why Token Burns Matter for $SHIB
Token burns are a key part of Shiba Inu’s roadmap, designed to reduce the massive supply of its meme coin. With a total supply originally set at one quadrillion tokens, burning mechanisms aim to create scarcity—similar to stock buybacks in traditional finance. As the available supply decreases, the hope is that demand pressure could help support higher prices over time.

Community-Driven Momentum
The surge in SHIB burns reflects the community’s active participation in driving the token’s future. Beyond organic burns, projects within the Shiba Inu ecosystem—such as Shibarium, its Layer-2 blockchain—are also introducing mechanisms to integrate burns into network activity, further aligning growth with deflationary supply tactics.

Market Outlook
Despite its meme coin roots, Shiba Inu continues to evolve as one of the most popular community-driven cryptocurrencies. With millions of SHIB holders worldwide, consistent token burns reinforce long-term optimism. However, investors should note that while burns help reduce supply, market demand and adoption remain the biggest factors influencing SHIB’s price trajectory.

✅ Key Takeaway: Over 102 million SHIB have been burned in the last week, marking a 388% surge. With the largest single burn of nearly 86 million tokens, the community is doubling down on supply reduction strategies to support Shiba Inu’s long-term value.
#shib #ShibaInuUpdate #memecoin #CryptoNews #burning

The BNB Foundation has announced the completion of its 30th quarterly token burn, removing over 1.6 million BNB from circulation, valued at $1.16 billion. The foundation still aims to reduce the total supply of tokens to 100 million BNB, which means burning an additional 42.47 million tokens.
Token Burn Utilized Auto-Burn and Pioneer Burn Mechanisms
The burn was executed using the Auto-Burn mechanism introduced through BEP-95, which eliminated more than 1.5 million BNB. An additional 110,000 BNB were burned through the Pioneer Burn program.
According to the foundation, these tokens were deemed "irretrievable" by validators on the Beacon Chain and were considered permanently burned. Validators received compensation through the Pioneer Burn Program. Current data shows approximately 142.47 million BNB tokens remain in circulation.
Future Burning Processes to Rely on Auto-Burn
The BNB Foundation plans to continue gradually reducing the token supply using the Auto-Burn mechanism. This system will adjust burn amounts based on the price of BNB and the number of blocks generated on the BNB Smart Chain (BSC) during each quarter, ensuring predictability and transparency.

Burns will be conducted via the “black hole” address:
0x0000000000000000000000000000000000dEaD
Additionally, the BNB Chain will maintain real-time burning based on gas fees. Since the introduction of BEP-95, nearly 248,000 BNB have been burned using this mechanism.
The Pioneer Burn program will also continue to help users recover tokens lost due to honest mistakes through quarterly burn events.
Binance CEO on Crypto Adoption
Binance CEO Richard Teng stated that cryptocurrency adoption is still in its early stages. He highlighted the misconception that it is "too late" to get involved in crypto, emphasizing the transformative potential the industry still holds.
Teng noted that while early adopters have benefited from their foresight, the opportunities ahead are equally significant.
Using Bitcoin as an example, Teng pointed out that what was once considered impossible—such as a $100,000 price—has now become normalized.
"What was impossible yesterday is expected or even ordinary today," said Teng.
He added that the momentum in the cryptocurrency industry is accelerating in 2024 and will likely gain even more speed in 2025.

#Binance , #burning , #CryptoMarket , #CryptoNewss , #cryptocurrencies

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

SHIB is Rising, But Can It Break Key Resistance Levels?
Over the past week, the burn rate of Shiba Inu (SHIB) has skyrocketed by 3,829.51%, sparking speculation about a potential price increase driven by a decreasing supply.
At the time of writing, SHIB was trading at $0.00001529, reflecting a 5.88% increase in the past 24 hours. The meme coin’s market capitalization surpassed $9.18 billion, strengthening its position in the market.
However, despite this impressive burn rate, the main question remains: Can SHIB sustain this momentum and break through key resistance levels?
Does a High Burn Rate Guarantee Price Growth?
While token burning reduces overall supply, price growth can only be achieved if there is strong buying pressure. A previous 612% increase in the burn rate had minimal impact on SHIB's price due to low market demand.
SHIB’s price movement is influenced not just by burning but also by overall market sentiment, trading volume, and accumulation by large investors (whales).
Without rising demand, even a massive token burn may not translate into sustained price growth.
How Many SHIB Holders Are in Profit?
Currently, 40.42% of SHIB holders are in profit, while 55.09% remain at a loss, indicating that they bought at higher prices.
This imbalance could create selling pressure, as investors might exit at break-even points, preventing further growth.
However, if SHIB surpasses the $0.000016 resistance level, it could trigger renewed bullish sentiment and further accumulation.

Technical Analysis: Where Will SHIB Move Next?
The daily chart shows a descending wedge pattern, which often precedes a breakout.
Currently, SHIB is struggling with resistance at $0.00001686 – if it successfully breaks this level, the next major resistance is at $0.00002011, potentially paving the way for a stronger rally.
Conversely, if SHIB loses support at $0.00001290, a deeper decline could erase recent gains.

Declining New Addresses Despite Price Increase?
On-chain data reveals that the number of new SHIB addresses dropped by 18.83%, signaling weakened retail participation.
Additionally, active addresses decreased by 16.76%, indicating fewer transactions despite the price increase.
On the other hand, whale activity has surged, with transactions over $100,000 increasing by 611.69%, suggesting growing institutional interest. If retail traders return, SHIB could gain further momentum and reinforce its uptrend.

Conclusion: Can SHIB Maintain Its Rally?
While a high burn rate supports price stability, actual growth depends on demand and buying pressure. Breaking through the critical $0.00001686 resistance level is essential for SHIB to sustain its upward trajectory.
If demand remains weak, SHIB may enter a consolidation phase or even retrace. Therefore, despite the significant burn event, long-term price growth will only occur if trading volume and market interest increase simultaneously. 🚀

#SHIB , #memecoin🚀🚀🚀 , #Shibarium , #CryptoAnalysis , #burning

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“