š„š„Shiba Inu : Over 700M Burned, SHIB Price Target $0.00004
While the community witnessed the burning of 714 million coins, the weekly burning of Shiba Inu increased remarkably. The #SHIB price continued its upward momentum with an increase of about 5% today.
The Shiba crypto community recorded that 714 million SHIB were burned last week.
The weekly burning leads to optimism, with the supply of the token decreasing.
The Shiba Inu price is rising along with speculation that more pumping will prevail after the BTC halving.
Shiba Inu, one of the most popular dog-based meme cryptocurrencies, aroused great curiosity among crypto market traders and investors with a remarkable increase in its weekly publication on Dec. 20. This increase in the weekly burning rate of memecoin, which comes with the recovery of the cryptocurrency market after halving, has added a bit of market optimism to Shiba Inu while market dynamics are improving as the supply has taken a hit.
Meanwhile, SHIB, which has risen by about 5% in the last 24 hours, has created bullish waves in the cryptocurrency sea as investors speculate about the token's upcoming price Deceleration.He points out a price target of potentially $0.00004 for Shiba Inu, which is of interest to investors.
SHIB Weekly Burn Ignites Investor Optimism
According to Shibburn's insights, the Shiba crypto community has noted the burning of an enormous 714.132 million SHIB over the past seven days, resulting in a 176.33% increase in the weekly burning rate. While the total supply of Shiba Inu was estimated at 589.27 trillion SHIB, the aforementioned burn was also heavy, whereas the total number of coins burned from the first supply reached 410.72 trillion and attracted attention.
Surprisingly, this remarkable burning of SHIB seems to trigger a price increase for #ShibaInu , and the token's in-chain data further confirms the token's increased price movement.
