SHIB may experience a price rally due to a significant increase in the burning rate of the meme coin, which has led to a reduced circulating supply. The burning rate has skyrocketed by nearly 5,000% in the last 24 hours, resulting in the destruction of almost 60 million tokens. Additionally, the SHIB supply on exchanges has reached a three-year low, which might indicate a shift towards self-custody methods and a decrease in immediate selling pressure.
Analysts have predicted a potential 50% rally if the price surpasses $0.00002800 or a 760% surge if key levels are breached.
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<p>The post SHIB Price Surge: Explosive Burn Rates and Low Exchange Supply Signal Bullish Potential first appeared on CoinBuzzFeed.</p>
