$SHIB

Shiba Inu's burn rate increased by 1000%!
500 million SHIB burned, supply decreased. Market predicts 300% gain for SHIB.

With the market entering an uptrend on Monday, Shiba Inu’s burn rate has seen a significant increase. According to the latest data, the meme token’s burn rate has increased by 1000%, with a total of 500 million SHIBs destroyed. This development has increased optimism among SHIB investors, with the market expecting a potential gain of 300% for the token.

Shibburn, which provides Shiba Inu burn data, announced that the burn rate increased by 1028.67% on November 11, with 463.45 million tokens burned. With this intense burn, the SHIB supply decreased to 589.26 trillion. Token burns aim to limit the supply of Shiba Inu and prevent excess supply from being seen as a factor causing the token's underperformance. On a weekly basis, a total of 615.15 million SHIB tokens were burned, which caused the supply to decrease even further. While demand remained stable, the decrease in supply had a positive effect on the price.

Elections and Stock Market Support Increased Volatility
While the increased market interest following Donald Trump’s victory in the US presidential election created a more positive atmosphere among crypto investors, Robinhood Crypto EU’s permission to transfer Shiba Inu also increased the interest in SHIB. Shiba Inu, which ranked second in terms of market value, gained value with the increases in general market conditions.

SHIB Price Expected to Rise by 300%
Analysts predict that SHIB will continue its upward trend in light of recent developments. As of now, the SHIB price has reached $0.00002467, marking a 9% increase on a daily basis. The token, which fell to a low of $0.00002213 during the day, rose to a high of $0.00002785. On the weekly chart, a 47% gain was achieved.

“The Shiba Inu’s hidden bull divergence points to a positive long-term outlook,” analyst Javon Marks commented. This rise has increased investor interest, boosting trading volume by 245%, with total trading volume reaching $6.08 billion. These developments reinforce expectations for Shiba Inu’s appreciation. The combination of supply and demand reductions, which are pushing prices higher, stock market support, and market interest from the US elections suggest that SHIB could be in a stronger position in the future.