Shiba Inu's burn rate skyrockets 6200%! Can SHIB reach 1 dollar?
The Shiba Inu ($SHIB) craze is getting hotter, with the burn rate increasing by 6200%, igniting the enthusiasm of the Shiba army! Is SHIB set to soar? Let’s analyze:
Burn numbers are here
In the past 24 hours:
290,321 SHIB have been burned, with less in circulation, the price is bound to rise.
The weekly burn is staggering, with 135 million tokens turned to ashes, the community is determined to achieve deflation.
Currently, there are 589.26 trillion SHIB in circulation, but with such a rapid burn rate, as scarcity increases, the price stabilizes.
The economics of SHIB burning
Why is this important?
It's all about supply and demand; with less supply and more demand, the price is naturally going to rise.
Market sentiment has also changed, SHIB has risen by 4%, now at $0.00002511, with an intraday high reaching $0.00002563.
Retail investor confidence is strong, with open contracts up 6%, now at $93 million, participation is increasing.
Can SHIB really reach 1 dollar?
The dream of 1 dollar seems a bit far, but the path for SHIB's surge is clear:
The burn mechanism is always active, supply is decreasing, ensuring long-term gains.
The ecosystem is also upgrading, with Shibarium coming, SHIB is transforming from a meme coin to a powerhouse in cryptocurrency.
The enthusiasm of the Shiba army is unstoppable, with overwhelming market interest.
What’s next for Shiba Inu?
Shibarium upgrade will make the SHIB ecosystem stronger and more user-friendly.
The community is working together to burn coins, the Shiba army is united, and scarcity is rising sharply.
Keep a close eye on market dynamics; the price and sentiment of SHIB are crucial.
Finally, let me say:
The burn speed of Shiba Inu and market enthusiasm are paving the way for SHIB's future. Although 1 dollar is difficult, deflation, ecosystem upgrades, and an enthusiastic community make SHIB more than just a meme; it’s a significant movement.
What do you think? Can SHIB rewrite the history of meme coins? Come share your thoughts in the Binance community!
