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SHIB Burn Rate Surge: Potential Shiba Inu Rally to $0.00002
#SHIB $SHIB #Altcoins #ShibBurn


Shiba Inu's burn rate has surged by nearly 1100%, boosting market sentiment despite a 1% price dip.

This rise hints at a potential rally for Shiba Inu (SHIB) to $0.00002.

Impact of Burn Rate:

The SHIB burn rate soared by 1100%, with 19.76 million SHIB destroyed in the last 24 hours. Notable transactions burned 6.94 million SHIB each. Over the past week, the burn rate increased by 13%, with over 83.37 million SHIB removed. Total burned SHIB: 410.72 trillion, leaving a circulating supply of 583.33 million. Reduced supply could drive up SHIB’s value, indicating a potential price rally.

Historical Data and Future Predictions:

SHIB previously surged by 11.8% in July 2023 and 13.4% in July 2022.Continuing this trend, SHIB could reach $0.00002.However, past performance isn’t always predictive; SHIB dropped 28.5% in July 2021.

Coinbase’s Strategic Moves:

Coinbase’s regulatory filing seeks approval to offer future products related to SHIB and other altcoins. Proposals include derivatives tied to DOT, SHIB, XLM, AVA, and LNK, potentially starting by July 15.This move could expand SHIB’s market presence and attract more investors.

Current Market Performance:

Shiba Inu's price dropped by 1.3% to $0.00001704, with a 24-hour high of $0.00001786.SHIB has fallen nearly 5% over the last seven days. Despite the dip, Shiba Inu's Open Interest rose 4% to $35 million, indicating strong market interest.