Shiba Inu Coin Burn and Shibarium Growth Fuel $1 Price Target

Shiba Inu (SHIB) is gaining momentum as the market turns bullish, with speculation of another parabolic rally. Key factors driving this optimism include a massive 920% surge in the SHIB burn rate and growing activity on Shibarium, Shiba Inu’s Layer 2 blockchain.

In the past week, 320 million SHIB tokens were burned, reducing supply and fueling bullish sentiment. Shibarium is also growing, with nearly 30,000 transactions and over 18,200 contracts in October.

With SHIB trading at $0.00001936, analysts believe these trends, along with upcoming developments like the Shib DAO Foundation, could drive another rally, potentially pushing SHIB closer to $1.

#Write2earn #Write2Earn! #shiba⚡ #SHIBAUSDT #MarketSentimentToday $SHIB