The burning rate of Shiba Inu skyrocketed by 144.223%. Will SHIB reach $0.00005?
The burning rate of Shiba Inu has recorded a surge of 144.233%, with over 2 billion SHIB tokens sent to dead wallets. This increase comes amid positive market fluctuations, and the current price of SHIB is around $0.00003019, down 1% in the last 24 hours but up 17% in the past week. According to price predictions from CoinCodex, SHIB could reach $0.00006049 by December 7, 2024, equivalent to a 99.44% increase from the current price.
Despite positive signs for a price increase, for SHIB to reach $0.00005, supportive factors such as token burning, real utility, and an optimistic market sentiment are needed. Currently, price forecasts for SHIB by the end of December indicate a possibility of the price dropping below $0.00003. However, some analyses suggest that SHIB could continue its upward trend and even reach the target price by mid-2025.
With these fluctuations, there is still potential for SHIB to reach $0.00005, but it is essential to closely monitor market trends and influencing factors.