Shiba Inu Burn Rate Explodes, SHIB Price Targets 36% Upside

Shiba Inu has once again sparked bullish sentiment among crypto traders and investors globally. On Monday, with the SHIB burn rate recording a massive 700% spike, the token’s price target sentiment of $0.00002 was seen across the wider industry. Besides, the SHIB price is currently showing signs of sideways movement. Market watchers are speculating whether the increased burn rate could fuel gains of over 30% for the token in the future.

Shiba Inu Burn Rate Explodes 700% as 15 Million SHIB Burned

According to data highlighted by community burn tracker Shibburn, Shiba In’s burn rate has increased by 772%. This increase in token burn is primarily attributed to the burning of 15.08 million SHIB over the past day.