CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Coin Edition 2024-12-10 12:30:00

Shiba Inu Burn Rate Surges 12,670%: Can SHIB Price Double Soon?

Shiba Inu (SHIB) has once again captured the attention of investors, fueled by a dramatic surge in its burn rate, which could signal potential price gains. On Tuesday, the SHIB burn rate surged 12,670%, shrinking the token’s circulating supply. Data from Shibburn shows that 52 million SHIB tokens were permanently removed from circulation. They were sent to a null address. This jump in SHIB burns comes during a bearish market, where Shiba Inu has fallen by over 18%. The SHIB price dropped to $0.00002511 after trading in the $0.00003 range. This drop has wiped out Shiba Inu’s weekly gains. But the market dynamics haven’t affected the SHIB burn rate. Community members continue to burn tokens in large numbers. Over 2.4 Billion SHIB Burned in Seven Days Over the past week, a total of 2.44 billion SHIB tokens were burned , further reducing the asset’s supply, which now stands at 589.25 trillion tokens. This significant reduction in supply is fueling speculation that SHIB’s price could double soon, particularly as the broader crypto market shows signs of recovery in Q4. Analyst Predicts a Likely 178% Surge for SHIB In a recent analysis shared on X, market … The post Shiba Inu Burn Rate Surges 12,670%: Can SHIB Price Double Soon? appeared first on Coin Edition .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.