Shiba Inu Burn Rate Surges by HUGE 1300%: What’s Next for SHIB Price?

It's a burning spree that's set the crypto community on fire with excitement. Will the SHIB price increase?

Prasanna Peshkar

Prasanna Peshkar

January 30, 2024 3:03 PM

Shiba Inu Burn Rate Surges by HUGE 1300%: What’s Next for SHIB Price?

The crypto scene is abuzz as SHIB crypto, the internet’s favorite meme coin, takes the stage with a headline-worthy move. the Shiba Inu burn rate just pulled off a staggering surge, clocking in an impressive 1400% overnight. A mind-blowing 61 million SHIB tokens literally going up in smoke within a mere 24 hours. It’s a burning spree that’s set the crypto community on fire with excitement. Will the SHIB price increase?

But here’s the twist – it’s not just about the numbers; the Shiba Inu community is right in the middle of the action. The surge in burn rate dances hand in hand with a 3% boost in the Shiba Inu price, injecting a dose of confidence and thrill for investors. It’s more than a crypto story; it’s a tale of enthusiasm and anticipation.

SHIB Price: Shiba Inu Burn Rate Soars

In the last 24 hours, the Shiba Inu burn rate went through the roof, hitting a crazy 1343.90%, and we saw a massive 61,235,837 SHIB tokens go up in smoke. This spike in burning rates, as highlighted by Shibburn, has really caught the attention of the Shiba Inu community and the crypto crowd at large.

Now, let’s dive into the burning frenzy and check out where the hottest burns went down. A whopping 27.21 million SHIB got torched from the wallet address 0x85a….4bcc7, another 21.78 million SHIB turned to ashes from that exact same wallet address, and as if that wasn’t enough, an extra 10 million SHIB got crispy from the wallet address 0x439….eb4b0. It’s like a fire dance happening in the Shiba Inu world right now!

As mentioned. there is a real buzz in the Shiba Inu scene, especially with the recent surge in burning activity. In the larger picture, Shiba Inu has been making waves in the past few weeks. Now, let’s talk about the burning spree that’s been going down – a whopping 410.70 trillion SHIB tokens have been wiped out from the max total supply of 999.98 trillion.

As of this moment, the circulating supply clocks in at 581.30 trillion SHIB. It’s pretty clear that these burning initiatives are having a remarkable impact on the overall token supply. The numbers don’t lie, and it’s shaping up to be quite an interesting ride in the world of Shiba Inu! 

What’s Next for the SHIB Price?

So, Shiba Inu’s burn rate is on fire, and it’s rolling with an almost 3% boost in the Shiba Inu price. Looks like investors are feeling pretty good about their favorite meme coin. Burning tokens is like making them scarce on purpose, kind of like making them exclusive, which might make the ones left more valuable. It’s like a double whammy – more burning happening, and the price is going up. 

As this burning spree continues, people are eagerly watching to see how this confidence boost and all the burning action will steer Shiba Inu in the long run in the wild world of cryptocurrencies.

As of now, the Shiba Inu price is up by 3%, sitting at $0.00000921. Trading volume in the last 24 hours has also shot up by more than 44% to $127.78 million. Just so you know, it reached a high of $0.000009432 and a low of $0.000008947 in the past 24 hours. 

So, the burning of Shiba Inu coins is going up a lot, and it looks like the Shiba Inu (SHIB) price is about to hit a big moment. It’s getting close to dropping one more zero and touching the $0.00001 mark, which is something the SHIB community has been really looking forward to. People in the crypto world are feeling a mix of hope and doubt about this upcoming event. 

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Prasanna Peshkar
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Prasanna Peshkar

Prasanna Peshkar is a seasoned writer and analyst specializing in cryptocurrency and blockchain technology. With a focus on delivering insightful commentary and analysis, Prasanna serves as a writer and analyst at CryptoTicker, assisting readers in navigating the complexities of the cryptocurrency market.

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