Shiba Inu Burn Rate Goes Up: Can SHIB Hit $0.01?
Shiba Inu Burn Rate Jumps 1,250%: SHIB To Reach $0.01?
The Shiba Inu burn rate skyrocketed 1,250% on Friday leading to its price briefly surge by 1.6% in the dayâs trade. The latest data from SHIB Burn shows that a wallet has burned 22.7 million tokens while two other wallets have initiated burns of more than 1.3 million tokens.
This development is refreshing, as the burns have dried up recently, with only a few hundred thousand being sent to the dead wallet.
Now that Shiba Inu burns have kick-started, will its price move toward the $0.01 mark? This article will highlight how the burns are essential in pushing SHIBâs price up in the charts.
The burn rate of 1,250% will not drive Shiba Inuâs price toward the $0.01 mark. In the last 24 hours, not more than 32 million SHIB tokens have been sent to the dead wallet.
To clarify, 32 million tokens are worth less than $500, with SHIBâs price at $0.000014.
These make little to no changes to Shiba Inuâs prospects, and the $0.01 milestone is a faraway dream. For SHIB to reach $0.01, burns need to be in trillions, not millions or billions. Yes, trillions of SHIB tokens need to be burned every day for the dog-themed token to even consider moving towards the $0.01 mark.
Explore a realistic price prediction for when SHIB might hit the $0.01 milestone. The prediction is for the long term and requires decades of patience to reach the target.
Waiting for decades is not everyoneâs cup of tea, as life demands that money be withheld for personal reasons. Those who genuinely wait for the long term might reap all the rewards in their lifetime.
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