Shiba Inu Price Poised for Major Rally Amidst 6070% Burn Surge
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Shiba Inu (SHIB) price, a popular meme coin, has seen an impressive 30% surge over the past month. This upward trend reflects growing investor confidence and market optimism about SHIB’s future potential.
Despite broader market fluctuations, SHIB remains a standout performer within the meme coin sector, showcasing promising growth patterns. The notable growth momentum is further supported by a dramatic 6070% increase in token burns, signaling heightened demand and limited supply.
Shiba Inu Price Set for Big Gains as Burn Rate Soars 6070%
Shiba Inu price is poised for a potential breakout, fueled by a dramatic rise in its token burn rate. Recent data from Shibburn revealed a staggering 6070% increase in Shiba Inu tokens burned within 24 hours. This surge removed approximately 4,187,786 $SHIB tokens from circulation on Tuesday alone.
The ongoing token burns have pushed the total number of burned SHIB tokens to over 410 trillion. Meanwhile, Shiba Inu’s circulating supply remains at 580 trillion tokens, underscoring the significant impact of the burn mechanism on the cryptocurrency’s ecosystem.
The surge in burn rate coincides with the crypto fear and greed index staying in the green zone, indicating positive market sentiment. Additionally, technical charts show the formation of bullish patterns, adding to the anticipation of a price rally.
Shiba Inu Price Eyes 90% In NovemberThe SHIB price is seeing a positive momentum today, rising by 3% to reach $0.00002546. Over the past 24 hours, the Shiba Inu price has experienced fluctuations but remains in an upward trend.
The Shiba Inu price prediction is encountering significant resistance at the $0.000028 level.
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