đ„ Shiba Inu Burns Surge 7,500% in Just One Week â $SHIB Price Ready to Soar? đ„
In an explosive turn of events, Shiba Inu ($SHIB) has witnessed a staggering 7,418% spike in token burns over the past week, slashing nearly 2 billion SHIB tokens from circulation. This strategic supply reduction has fueled optimism among investors, with $SHIB prices approaching annual highs and gaining momentum for a potential breakout.
đ Massive Burn Milestone đ
The Shibburn platform reported a jaw-dropping 1.937 billion SHIB tokens burned, marking a monumental effort to tighten supply and create scarcity. Within the last 24 hours alone, 386.5 million tokens have been incinerated, setting the stage for potential price surges.
đ„ Burn Impact on SHIBPrice đ„
Token burns are designed to reduce supply, increase scarcity, and exert upward price pressure. With Shiba Inu starting with a circulating supply of 1 quadrillion tokens, the community has already halved this amount to 589.26 trillion SHIB, thanks to continuous burn efforts.
However, Shytoshi Kusama, Shiba Inuâs lead developer, emphasizes that utility and widespread adoption remain crucial alongside burns. The journey toward reducing 99% of SHIB supply may be ambitious, but the vision is clear: make Sa valuable and globally recognized asset.
đ Price Breakout Looming? đ
Currently trading at $0.00003059, SHIB has soared 13% in 24 hours, with an intraday high of $0.00003146. As the token nears its 2024 price peak, the surge in burns, coupled with rising market sentiment, could pave the way for a record-breaking rally.
đ Key Takeaways đ
Weekly Burn Rate: +7,418% (1.937B SHIB burned).
Current Circulation: 589.26T SHIB.
Next Targets: Keep an eye on $0.000032 and $0.000035 for potential resistance levels.
With $SHIB capturing the spotlight, the question remains: Can Shiba Inu sustain this momentum and make 2024 its breakout year?
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