Shiba Inu (SHIB) has been taking off recently with some interesting developments that have got the dog meme community hyped once again.
We’re seeing a massive jump in its burn rate, which could lead the SHIB to new heights.
The SHIB Burn Rate Is Above All Expectations – Could It Be the Next Coin to Explode?
Something big just happened with SHIB’s burn rate – we’re talking about a 6,000% explosion in a single day, with nearly 300k tokens getting burned.
Basic economics tells us that when you reduce supply while demand stays steady or grows, you could see some interesting price movement.
The crypto community is definitely paying attention to this one. Carl “The Moon”, a UAE-based crypto influencer, made many headlines by announcing he’s holding his SHIB for the long term, with some pretty ambitious target prices in mind.
SHIB’s been holding strong lately too – up about 50% over the last month, trading around $0.00002668. The technical signals are looking positive, with some interesting patterns forming.
We’re also seeing more activity from larger holders accumulating SHIB, which could hint at something brewing.
What’s really interesting here is what this means for meme coins in general. The massive burn rate and backing from some popular influencers show these tokens might be growing into something much bigger.
People are starting to look deeper at things such as usage and community engagement rather than just the hype factor.
With all these factors, Shiba Inu is on a good path to lead the next rally and outperform its impressive performance from 2021
