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🔥 Shiba Inu Explodes 17% - Will Burn Rate Increase Lead to a New High?🔥
Shiba Inu (SHIB) is making headlines, surging 17.7% in a single day and a staggering 30% over the past week, reaching levels not seen since April 1. Here’s what’s fueling the surge:
🔥 Massive Burn Rate Increase $SHIB
The Shiba Inu token burn rate has surged by 7,400%, significantly reducing the circulating supply.
🔹 Over the past week, SHIB token burns have increased by 984.26%, leaving a circulating supply of around 589.2 trillion.
🔹 The Shibarium Layer 2 blockchain plays a vital role in this, processing 541 million transactions and burning transaction fees collected in BONE tokens.
With increased burns reducing supply, demand for SHIB is increasing.
📈 Analysts Expect a Massive Rally
Cryptocurrency analysts are bullish on SHIB’s price potential:
🔹 Ali Martinez is forecasting a rally to $0.000037, representing a 54% increase from current levels.
🔹 Javon Marks goes even further, predicting a rally to $0.000081, a 200% increase!
🐋 Whale Accumulation Adds Fuel
SHIB is also seeing significant interest from whales:
🔹 On November 21, net inflows from large holders surged 256%, with whales adding 393.48 billion SHIB tokens, worth over $9.$8 million.