Here how $SHIB can reach 1$đš
For SHIB to hit $1, it would need a mix of significant supply reduction through large-scale token burns, meaningful advancements in utility, and broad market adoption.
Shiba Inu (SHIB) has drawn attention with its remarkable burn rate spike, generating optimism among the cryptocurrency community. Alongside this development, a newly emerging cryptocurrency, Minotaurus (MTAUR), is gaining traction in the market, positioning itself as a potential competitor that could achieve the 1 USDT milestone before SHIB.
Shiba Inuâs Burn Rate Surge Drives Positive Market Sentiments
According to the Shibburn tracker, the burn rate of SHIB spiked by 6,223% within a single day on November 19. In this period, around 290,321 tokens were burned which means they were taken out of the circulating supply. In the same week, the community removed from circulation approximately 135 million SHIB tokens and this has led to a decrease in supply.
The tokenâs total supply is still 589.26 trillion and the market shows signs of increased confidence.
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