Shiba Inu (SHIB) records a significant 357.48% increase in burn rate over 24 hours, with 14 million tokens burned.Despite a recent price rebound, SHIB bulls face resistance at the $0.000010 to $0.000014 price level, with a major Layer 2 Shibarium milestone approaching.
The cryptocurrency community has observed a substantial uptick in the burn rate of the dog-themed digital currency, Shiba Inu (SHIB). Over the past 24 hours, an impressive 357.48% increase in the token burn rate has been recorded, marking a pivotal moment for the meme coin.
A Surge in SHIB Burn Rate
Data from Shibburn, a platform dedicated to tracking $SHIB token burns, reveals that 14 million (14,000,832) SHIB tokens were burned in the last 24 hours. This significant burn activity has contributed to a notable reduction in the total supply of SHIB tokens. The last seven days alone saw 152,246,124 SHIB tokens removed from circulation through various transactions.
The SHIB community’s efforts to burn tokens align with the broader goal of reducing supply to create scarcity, potentially driving up the coin’s value. This strategy has become a focal point for SHIB enthusiasts aiming to bolster the cryptocurrency’s market position.
Price Movements and Market Resistance
The Shiba Inu price has shown resilience following its recent plunge, rebounding from a low of $0.00000878. In the past 24 hours, $SHIB  experienced a modest increase of 0.86%, reaching $0.0000095. However, SHIB bulls striving to eliminate a zero from the token’s price encountered resistance, preventing the price from surpassing the $0.00001 threshold.
The key resistance zone for SHIB is currently pegged between $0.000010 and $0.000014. Data from IntoTheBlock indicates that a significant amount of SHIB was purchased by numerous addresses within this price range, hinting at potential selling pressure as investors reach a break-even point.
The Road Ahead for Shiba Inu
As $SHIB bulls gear up to overcome this price barrier, the overall sentiment and trajectory of the cryptocurrency market remain critical factors influencing SHIB‘s performance. The market is showing signs of recovery following the recent upheaval triggered by the Bitcoin ETF approval.
In a significant development for the Shiba Inu ecosystem, the Layer 2 Shibarium network is nearing a major milestone of 300 million total transactions. This achievement, alongside the growing number of wallet addresses and total blocks, underscores the expanding reach and adoption of the Shiba Inu network.
The increased burn rate and upcoming milestones for Shiba Inu represent key indicators of the token’s growing market presence and investor interest. As the SHIB community continues its concerted efforts to impact the token’s supply and value, the cryptocurrency market watches with keen interest, anticipating the potential implications for Shiba Inu’s future trajectory.
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Shiba Inu (SHIB) is once again making headlines, surpassing $0.000009 by the end of January. The SHIB community is optimistic, targeting milestones like $0.0004 and $0.004, with the ultimate aim of reaching one cent. Despite market uncertainties, investors remain confident in SHIB’s upward trajectory, leveraging AI chatbots for predictive insights.
Shiba Inu (SHIB) has evolved beyond its initial categorization as a meme coin, making significant strides. Achieving an all-time high on October 28, 2021, just a year after its August 2020 debut, early investors have reaped substantial rewards. Aspirants eyeing millionaire status by strategically investing $100 in SHIB at specific price points can now assess potential returns.
Does this excite you? Well, it should! Read on for more information.
A Closer Look at the Growth
Investing $100 monthly in SHIB since its August 2020 inception, totaling $4,100, would yield a portfolio now exceeding $50.4 million—a remarkable growth of 1,231,379%. Opting for a weekly investment of $100 (totaling $17,900) would result in a portfolio valued at $204.9 million, marking a growth of about 1,144,671%.
Investment Till October 2020 All-Time High
If someone invested $100 monthly until SHIB reached its all-time high in October 2020 (totaling $1,500), the portfolio’s value would have surged to $279.8 million. This represents an extraordinary growth of 18,655,517% (18.65 million percent).
Weekly Investments Till 2021 Peak
Whereas a weekly investment of $100 until SHIB’s peak in 2021 (totaling $6,200) would have resulted in a remarkable $1.16 billion return.
Don’t Have FOMO – Yet!
While the fear of missed opportunities lingers, some remain hopeful for continued SHIB growth. Becoming a SHIB millionaire may require a significant investment. For example, at the current price, a prospective investor might need to commit $22,975 if SHIB hits $0.0004. If the target is $0.004, the potential investment could increase to $2,297 for a shot at the million-dollar milestone. $SHIB
Google Bard’s predictions indicate a $100 investment at these levels might fall short, yielding returns of $4,300 and $43,000, respectively.
Strategic Moves Required
To enhance its price, Shiba Inu (SHIB) plans to reduce its token supply through a burn mechanism. Acknowledging the challenge posed by its expansive supply, the SHIB community hopes that reducing it could trigger a price surge. It’s crucial to note that while impactful, this strategy alone may not suffice; increased adoption remains pivotal to SHIB’s sustained success. The burn mechanism is just one aspect of SHIB’s broader strategy for continued growth.

#ShibaInvestment #ShibaInuSurge #Shibaprice #Write2Earn