By Key Pointers
- Shiba Inu’s burn rate increased by 685% this week.
- Over 399 million SHIB coins burned in the last 7 days.
- Analyst predicts SHIB price could rise to $0.00002800.
- Market shows bullish sentiment amid aggressive burning strategy.
The Shiba Inu community has stepped up its game, dramatically increasing the burn rate of SHIB coins by a whopping 685% this week.
This aggressive move, confirmed by the Shibburn tracking platform, has seen over 399 million SHIB coins sent to irretrievable blockchain addresses in just seven days.
The goal? Reduce the circulating supply and potentially boost the coin’s market value.
🚀 Latest SHIB Stats:
- Price: $0.00002068 (1hr -0.17% | 24hr -4.87%)
- Market Cap: $12,181,521,782 (-4.74%)
- Total Supply: 589,273,063,638,942
📉 Tokens Burnt:
- Past 24Hrs: 39,878,482 (-62.76%)
- Past 7 Days: 399,586,110 (685.12% ▲)
Market Analysts Predict Price Breakout
Crypto analyst Ali Martinez has highlighted the promising technical indicators surrounding Shiba Inu, suggesting a potential price breakout. With SHIB trading just above $0.00002076, Martinez forecasts a possible rise to around $0.00002800. This would mark a significant 35% gain, bolstering confidence among SHIB holders.
Despite a recent 21.7% drop in value, Shiba Inu has shown resilience, recovering modestly by 4.7% to trade at $0.00002068. This bounce-back underscores the active participation and robust interest within the SHIB community.
Optimistic Outlook Amid Bullish Sentiment
The recent spike in burn rates, coupled with optimistic market analysis, has set a promising stage for Shiba Inu’s financial trajectory. Investors are closely watching these developments, anticipating potential gains as the meme coin community gears up for what could be an exciting period in SHIB’s trading history.
