Complete Gate Post tasks to upgrade your rank

Credit Ranking

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1701767414SDFX 1.jpeg)

## TL; DR

The <a href="/price/shiba-inu-shib" target="_blank" class="blog_inner_link">Shiba Inu</a> community burned over 80 million SHIB on 18 November 2023. 

The Shiba token price may reach $0.00001 within the next few days or weeks. 

Shiba Inu plans to integrate AI in its ecosystem to improve its user gaming experience. 


## Introduction

The Shiba Inu community continues to introduce measures to strengthen the value of SHIB, popularly referred to as the <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a> killer. The memecoin, introduced in 2021, has a large following of investors and fanatics. They are pushing for the blockchain’s further development and the firming of SHIB value. 

Today, we look at the recent SHIB burns and the possible integration of artificial intelligence (AI) on the blockchain. We will also [present Shiba price predictions](https://www.gate.io/price-prediction/shiba-inu-shib "present Shiba price predictions"). 


## Shiba Inu Milestone: Over 80 Million Tokens Burned

On 18 November, the Shiba Inu burn rate increased by 60% within a few hours when over 80 million tokens were sent to a dead-end wallet. The driver for the increase in the number of burned Shiba tokens was the news that the blockchain may integrate artificial intelligence. 

The anticipation for the introduction of AI followed a post by one of Shiba Inu developers on X. [Shytoshi Kusama, the lead developer said](https://twitter.com/LucieSHIB/status/1719790454810558904 "Shytoshi Kusama, the lead developer said"), “Decentralized AI is like a symphony of minds working together, where each note contributes to the melody of innovation, no single conductor, just a harmonious collaboration.”

As if to confirm the news of the introduction of AI on the blockchain, Lucie, Shiba Inu market specialist posted the same message on her [X profile](https://x.com/LucieSHIB/status/1725975158475608277?s=20 "X profile") as the screenshot shows. 

![](https://gimg2.gateimg.com/image/article/1701767440SHIB 1.png)
Shiba Inu Hints on AI Integration – X.com 

Coming back to the issue of the 80 million burned SHIB, 79,127,027 were sent to a dead-end wallet in a single transaction. There were also 4 other smaller transactions of about 2.5 million each. The following diagram shows the total amount of SHIB burned on 18 November. 

![](https://gimg2.gateimg.com/image/article/1701767471SHIB 2.png)
Shiba Inu (SHIB) Burn Rate - ShibBurn.com


Nonetheless, the burning event did not lead to a remarkable price rise as its value remained stuck around $0.000008515. The next graph shows [Shiba Inu price](https://www.gate.io/price/shiba-inu-shib "Shiba Inu price") after the burning event.

![](https://gimg2.gateimg.com/image/article/1701767583SHIB 3.png)
Shiba Inu Price – CoinGecko

As you note on the diagram, the Shiba price decreased between 19 and 23 November, a few days after the burning event.  Some people had expected the Shiba price to rise since token burning reduced its circulating supply. 

In this case, what the Shiba Inu lead developer, Shytoshi <a href="/price/kusama-ksm" target="_blank" class="blog_inner_link">Kusama</a>, said about token burning seemed true. He said that burning tokens does not automatically result in a price rise. Thus, according to him, the value of a token only increases through use and utility. 

He also cited the activities of “fudders” as a factor that drives the price of a token down, even if a burning event has occurred. To this effect, he said, “the fudders attack and this drives away users or partners which drives down use.”

## Other Shiba Inu Milestones

In addition to the recent burning event, the Shiba Inu network has attained other milestones. There have been improvements in several key metrics. 

For example, the network has so far recorded total transactions of 14,312,822 and 1,907,774 total blocks. Its daily transactions stand at around 5.11 million. Again, it has a total of 1,277,580 wallet addresses. 

## Exploring the Possibility: Shiba Inu’s Potential Venture into AI

Previously, citing Shytoshi Kusama, we hinted on Shiba Inu’s AI integration. With this, the blockchain will integrate AI technology with its play-to-earn (P2E) gaming ecosystem. This shows that the [Shiba Inu community](https://www.gate.io/learn/articles/what-is-shiba-inu-coin/23 "Shiba Inu community"), including the developers, is committed to improving its user experience. 

The integration of AI into the ecosystem will result in more immersive and interactive gaming experience. This will likely lead to dynamic in-game features and other adaptive gaming mechanics which will improve the players’ motivation and enjoyment. This development comes months after the launch of [the Shibarium, a layer-2 scaling solution](https://www.gate.io/learn/articles/what-is-shibarium-blockchain/528 "the Shibarium, a layer-2 scaling solution"). 

## SHIB Price Predictions

Before we look at SHIB’s price forecast for the coming months, let’s first focus on its current sell pressure. [On-chain data on IntoTheBlock](https://app.intotheblock.com/coin/SHIB/deep-dive?group=exchanges&subgroup=order-books&chart=market-depth "On-chain data on IntoTheBlock") indicates that the Shiba token is facing strong selling pressure. The aggregated Order Books figures from various crypto exchanges confirm this. 

Specifically, the aggregated order book data shows that there are about 3.5 trillion SHIB for sale. On the other hand, there are only 2.7 trillion [SHIB buy orders](https://www.gate.io/how-to-buy/shiba-inu-shib "SHIB buy orders"). This shows that SHIB supply exceeds its demand by about 800 billion, as <a href="/price/the-graph-grt" target="_blank" class="blog_inner_link">The Graph</a> indicates. 

![](https://gimg2.gateimg.com/image/article/1701767691SHIB 4.png)
Shiba Inu (SHIB) Exchange On-chain Market Depth - IntoTheBlock

The fact that Shiba token supply is currently greater than its demands depicts a possibility of a large sell-off which may trigger a price fall. Now, let’s focus on the different <a href="/price-prediction" target="_blank" class="blog_inner_link">price prediction</a> permutations. 

The existing data shows that the Shiba token price is likely to fall from $0.000007. [On-chain data on IntoTheBlock](https://app.intotheblock.com/coin/AXS/deep-dive?group=financials&chart=inAndOut "On-chain data on IntoTheBlock") shows mounting bearish pressure. Sadly, if the price falls further it is likely to drop below $0.00006 as the Global In/Out of the Money (GIOM) chart shows. 

![](https://gimg2.gateimg.com/image/article/1701767746SHIB 5.png)
Shiba Inu (SHIB) Global In/Out of the Money (GIOM) data - IntoTheBlock

As the diagram shows, if the 52, 9200 addresses that bought 19.37 trillion SHIB at a maximum price of $0.000007 offer strong support the price may fail to drop below that level. Nonetheless, if the selling pressure keeps increasing the SHIB price may drop towards $0.000004. 

On the other hand, if the bulls exert much pressure the SHIB price may reclaim $0.00001. That level may, however, prove difficult to reach considering that there are 153,700 addresses that purchased 68.5 trillion SHIB at the average price of $0.000008. If they sell their SHIB holdings its price may retrace. However, if the price breaks above $0.000008, it may reach $0.00001.'

## Conclusion

On 18 November, the Shiba Inu community burned over 80 million tokens in 5 transactions. Despite burning a large amount of the token, its price did not rise. Instead, its value decreased within the next two days. The news of a possible AI integration into the Shiba Inu ecosystem prompted the token burning event.


<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

简体中文

English

Tiếng Việt

Español

Русский язык

Français

ภาษาไทย

日本語

Indonesia

Deutsch

عربي

Português (Portugal]

Português (Brasil]

繁體中文

Українська

The burning of over 80 million Shiba tokens on 18 November failed to push its price up

福利中心

小红花-Learn & Explore-博客

小红花-Learn & Explore-快讯

币圈-币圈-未来事件

小红花-Learn & Explore-聊天室

小红花-Learn & Explore-直播

小红花-Learn & Explore-动态

币圈

Gate OTC

芝麻金融-更多-财富管理

机构-APIs

机构-大宗交易服务

机构-经纪商项目

全球做市商计划

机构-托管和资产管理

机构借贷

机构-做市商项目

小红花-Promotions-机构和VIP服务

量化基金

机构-基础架构

机构-交易

机构-金融

结构化产品

机构-主页

衍生品-统一账户

芝麻金融-更多-抵押借币

vip服务

机构

策略跟单

现货跟单

交易-合约跟单

跟单

量化策略-探索

量化策略-进阶

量化策略-基础

交易-机器人广场

创建机器人

探索机器人

杠杆网格

无限网格

期现套利

组合指标策略

智能调仓

现货马丁格尔

合约网格

现货网格

交易机器人

芝麻金融-更多-ETH2.0挖矿

芝麻金融-更多-法币理财

链上赚币

芝麻金融-理财-双币宝

芝麻金融-理财-定期理财(屯币)

芝麻金融-理财-结构性理财

芝麻金融-理财-理财宝

芝麻金融-理财-余币宝

GT挖矿

芝麻金融-更多（理财产品）

芝麻金融-理财（打新）

launchpool

launchpad

赚币-HODLer Airdrop

candy_drop

web3 Airdrop

赚币

模拟交易

衍生品-期权

衍生品-交割合约

衍生品-永续合约

合约入门

合约活动

衍生品

交易-杠杆ETF

交易-杠杆交易

交易-闪兑

交易-现货交易

交易-创新交易

交易-交易工具

交易-交易类型

交易-盘前交易

交易

行情

买币-gateCard

卖币

买币-快捷交易

买币

买币-paywith

法币定投

小红花-推广

新手指南

活动中心

小红花-Learn & Explore-学院

小红花-Exchange-最新公告

小红花-Exchange-帮助中心

gate商店

小红花-Promotions-邀请计划

小红花-promotions-代理商

储备金

合作伙伴

cextg小程序

小红花

web3

Shiba Inu (SHIB) Burns over 80 Million Tokens as Head Developer Hints at AI Pivot