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SHIB’s burn rate spiked 600%, reducing supply by over 3 million tokens on January 22nd. Shiba Inu coin price hovers around the 200 day EMA mark and struggled to As the Shiba Inu burn rate skyrockets, will the token’s price rise accordingly? Read this article to delve into the specifics of the latest burn and discover what it may mean to Its 1-hour price stands at a loss of 0.05%, while the 24-hour price shows a loss of 3.6%. The 7-day SHIB price stands at a loss of 8.9% as of press time. Notably, the downtrend is not Shiba Inu’s burn rate recently increased, removing billions of tokens from circulation. Binance facilitated a significant SHIB burn, raising investor hopes for price gains. Shiba Inu (SHIB) Burn Rate Spikes %: Will Price Follow? As per the data on Shibburn, Shiba Inu’s (SHIB) burn tracker, the project’s burn rate has spiked by 499,363.34%, with over As per the information on Shibburn, Shiba Inu’s (SHIB) burn tracker, the venture’s burn fee has spiked by 499,363.34%, with over 264 million tokens burnt in On-chain data has unveiled an impressive surge in the Shiba Inu burn rate, skyrocketing by more than 600% in just one day. This sharp rise in token burns indicates a growing interest in

Shiba Inu (SHIB) Burn Rate Spikes 499,000%: Will Price Follow?

Is a massive SHIB burn the key to a price surge? The Shiba Inu burn rate recently spiked, removing billions of tokens from circulation, igniting speculation within the SHIB army. As per the data on Shibburn, Shiba Inu’s (SHIB) burn tracker, the project’s burn rate has spiked by 499,363.34%, with over 264 million tokens burnt in a single day.

This follows a previous surge where SHIB’s burn rate spiked 600%, reducing supply by over 3 million tokens on January 22nd. On-chain data has unveiled an impressive surge in the Shiba Inu burn rate, skyrocketing by more than 600% in just one day. This sharp rise in token burns indicates a growing interest in reducing the circulating supply of Shiba Inu.

Why the Burn? And What Does It Mean for SHIB Price?

The primary purpose of burning SHIB tokens is to reduce the total supply, potentially increasing scarcity and driving up the price. Binance facilitated a significant SHIB burn, raising investor hopes for price gains. But will this recent monumental 499,000%+ burn rate translate into a significant price increase?

Shiba Inu coin price hovers around the 200 day EMA mark and struggled to break through resistance. Its 1-hour price stands at a loss of 0.05%, while the 24-hour price shows a loss of 3.6%. The 7-day SHIB price stands at a loss of 8.9% as of press time. Notably, the downtrend is not exclusively tied to the burn rate increase. Broader market conditions and investor sentiment also play a crucial role.

Expert Analysis: Will the Shiba Inu Price Rise?

As the Shiba Inu burn rate skyrockets, will the token’s price rise accordingly? Read this article to delve into the specifics of the latest burn and discover what it may mean to your investment strategy. We'll analyze the potential impact of these burns on the future price of SHIB, considering both the bullish and bearish scenarios.

While a reduced supply can theoretically lead to a price increase, the effectiveness depends on various factors, including demand, overall market trends, and the broader adoption of the Shiba Inu ecosystem.

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