SHIB Burning Rate Surges by 10,990%

According to Shiba Inu (SHIB) burn rate tracker, Shibburn, SHIB burn rates have soared by 10,990%. The platform highlighted that one particular transaction burned over 21 million SHIB tokens.

This surge in burn rates could be attributed to increased activity within the SHIB ecosystem and the implementation of various burning initiatives by the SHIB community. An increase in demand could also potentially drive up prices.

Will Shiba Inu (SHIB) Rise to $0.00006?

Historically, SHIB's burn rate has seldom led to significant price increases, likely due to the enormous circulating supply of approximately 589 trillion SHIB tokens. The number of tokens burned is relatively small compared to the circulating supply, making substantial price hikes unlikely. Nonetheless, SHIB enthusiasts and investors remain hopeful for higher prices.

According to CoinCodex, Shiba Inu (SHIB) could rise to $0.00006131 by June 25, 2024, representing a growth of nearly 157% from current levels. Furthermore, CoinCodex predicts SHIB could reach $0.00008336 by July 2, 2024, a 250% increase from current levels.

If SHIB reclaims the $0.00008 level, the asset could potentially reach a new all-time high. The popular dog-themed cryptocurrency is currently down more than 72% from its all-time high of $0.00008616, achieved in October 2021.

Changelly also predicts that Shiba Inu (SHIB) will recover in the coming days, potentially reaching $0.00003713 by June 10, 2024. If SHIB hits this target, it would represent an increase of about 55.6% from current levels.#binance #shiba⚡ #Shibalnu $SHIB