SHIB Burn Rate Surges 233% Will Bring Thousand-fold Gains! Replace Dogecoin?
Shiba Inu's burn rate surged over the weekend after a key upgrade to the Shibarium network, with the market expecting the move to kick off a bull run for SHIB.
Shibburn revealed today that the ecosystem has destroyed 4.796 million SHIB tokens in the past 24 hours, an increase of 233%. More than 28.8 million tokens have been destroyed in the past week.
The destruction comes three years after the famous Vitalik Buterin incident, when Ethereum founder Vitalik Buterin destroyed more than 400 trillion Shiba Inu tokens gifted to him by the community. At the time, these tokens were worth $6.7 billion and accounted for half of the memecoin supply. The destroyed tokens were equivalent to 90% of Buterin's reluctantly gifted token reserves; he later sold the remaining 10% and donated the funds to charity.
Buterin's legacy is still felt and celebrated in the Shiba Inu community. To mark the event, K9 Finance recently announced that it would burn KNINE tokens to commemorate Buterin's destruction, reduce the diluted market value, make KNINE a deflationary token and increase the percentage of shares held by holders.
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The current price of Shiba Inu coin SHIB is $0.00002497. If certain price targets are achieved, investors who invest $10,000, $50,000 or $100,000 in Shiba Inu coins may reap $10 million. Shiba Inu coin has captured investors' interest in the bull market, with occasional spikes in trading volume. The market expects it to rise sharply in price similar to the previous bull market, and its price rebound is also very strong, rising 370% in ten days to reach the highest price of the year. Investors are actively accumulating SHIB tokens, and analysts have given multiple targets.
An investor holding $10,000 in Shiba Inu coins now holds about 402,738,622 tokens, and to reach $1 million, SHIB needs to increase significantly. Different amounts of holdings require different SHIB increases to reach $1 million. Some analysts have multiple predictions for the Shiba Inu coin bull run, with a price of $0.0002483 being more feasible.
How high can SHIB rise in the near future?According to Changelly analysts, the lowest trading price next week is expected to be $0.0000240, the highest is $0.0000446, and it may touch $0.00003. Historically, Bitcoin's performance often affects the prices of other cryptocurrencies, and SHIB has also risen sharply with the rise of Bitcoin.
Cryptocurrency analyst Cold Blooded Shiller has taken an in-depth look at the future trajectory of Shiba Inu (SHIB) in relation to Dogecoin. The analyst said that given Dogecoin's recent bullish momentum, the second largest meme coin by market value may soon replace Dogecoin.
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