SHIB surged 23% in 24 hours, token destruction danced with Shibarium
SHIB’s price surged 23% in 24 hours, driven by the explosive growth in token burn rate (surging 33,800%) and the positive progress of Shibarium’s Layer 2 solution.
Analyst Outlook: SHIB leaps forward, but the road to zero is long
Although analysts are optimistic about the sharp rise in SHIB's stock price, the goal of erasing the valuation of two zeros and reaching a market value of US$800 billion is as difficult as climbing Mount Everest.
SHIB takes the top spot on the cryptocurrency stage
SHIB has led the cryptocurrency list (within the top 100) in the past 24 hours with a 23% increase. Its current price is approximately $0.00001895, recreating its glory in mid-July.
Market value soars, SHIB ranks among the top
SHIB's market value has jumped to $11 billion, ranking 14th on the cryptocurrency market value list. Among meme coins, it is second only to Dogecoin, whose market value is close to $18 billion.
The destruction mechanism is showing its power, and the token supply is greatly reduced
The destruction mechanism played an important role in SHIB's strong recovery. The daily destruction rate soared by 33,800%, and nearly 2 billion tokens were destroyed. This move is aimed at reducing the circulation or helping prices rise (when demand is stable or growing). So far, more than 410 trillion tokens have been destroyed, and the circulation is about 583.5 trillion.
Shibarium progress, second layer solutions help
Shibarium is the second-layer expansion solution for SHIB. Its block processing volume recently exceeded 7 million, and its total transaction volume reached nearly 420 million, adding momentum to the rise of SHIB.
Meme coins are booming, SHIB is not alone
On September 27, the market value of the meme coin sector rose by 14% to approximately US$54 billion. SHIB was not the only bright spot. Dogecoin, Pepe, etc. also grew by double digits, while a few such as PepeCoin fell.
SHIB future outlook: analysts express their views
JAVON MARKS predicts that the SHIB price chart shows "multiple confirmed bullish patterns" and may rise 315% to $0.000081. Pepa is more optimistic, but the zero prediction requires a market value of nearly $800 billion, which is extremely difficult to achieve.
