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$XRP Shiba Inu Burn Rate Surges by 7,418%: Can SHIB's Price Continue to Rise?
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Weekly Shiba Inu Burn Hits Record Levels
Shiba Inu, the popular meme coin, has experienced an extraordinary 7,418% increase in its token burn rate over the past week, with over 2 billion SHIB burned. This significant reduction in circulating supply has sparked optimism among investors, especially as SHIB's price trades at yearly highs.
The Shibburn platform, which tracks SHIB token burns, announced on social media platform X that approximately 1.937 billion SHIB tokens were burned in the week ending November 30. This sharp rise in token burns marks a critical milestone in the ongoing effort to reduce SHIB's massive supply. Following this announcement, the burning momentum has only increased, with over 2.15 billion SHIB tokens burned over seven days, including 386.5 million in the past 24 hours alone.
How Does Burning Impact SHIB's Price?
Token burning is a crucial mechanism that intentionally reduces supply, increasing scarcity and creating upward price pressure. For Shiba Inu, which started with a massive circulating supply, consistent burns are essential for long-term value appreciation.
Shiba Inu was initially issued with a total supply of 1 quadrillion tokens. However, burn initiatives have nearly halved the circulating supply, which now stands at 589.26 trillion SHIB. The community remains committed to this strategy, aiming to reduce supply further.
SHIB market cap currently at $18.2 billion. g
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#MicrosoftBTCInvestmentVote #ETHOnTheRise #XRPReclaimsTop3
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Bitcoin, ETH, & XRP Price Prediction: Here’s What to Expect in December 2024!
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The post Bitcoin, ETH, & XRP Price Prediction: Here’s What to Expect in December 2024! appeared first on Coinpedia Fintech News
The cryptocurrency market concluded November on a bullish note, with top cryptocurrencies recording a significant price rally. Moreover, with Bitcoin’s price hovering close to the $100k mark, the crypto space has achieved a new ATH.
Will the top 3 cryptocurrencies resume the month of December on a bullish note? In this article, we have covered the short-term market sentiments of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) crypto tokens.
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Robert Kiyosaki Predicts Bitcoin Crash Days After $500k AI Prediction
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Famous author of the best-selling finance book Rich Dad Poor Dad, Robert Kiyosaki has made a new Bitcoin prediction. According to Kiyosaki, Bitcoin is primed for a crash. He made the prediction days after his initial AI-fuelled prediction of Bitcoin hitting $500,000 by 2025.
He took to his handle on microblogging $SOL
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platform X to reveal to his 2.6 million followers the situation surrounding the leading digital asset. Kiyosaki, a vocal supporter of Bitcoin, has always called on American citizens, especially the ones active in the crypto market to purchase Bitcoin.
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#XRPTrends #ThanksgivingBTCMoves #BinanceBNSOLPYTH #BSCOnTheRise #MarketInTheGreen $BTC
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