- Shiba Inu’s burn rate spikes 78,000%—price surge on the horizon.
- Shiba Inu burns millions of tokens, fueling optimism for growth.
- Price and burn rate surge—could Shiba Inu reach new highs?
Shiba Inu has been making headlines with a dramatic surge in its burn rate, which has skyrocketed by an incredible 78,273.79% in just the past 24 hours. This massive increase in the burn rate comes at a time when Shiba Inu’s price is also showing significant signs of recovery.
Based on the Shibburn statistics, 87,958,122 SHIB tokens have been burnt recently, substantially lowering the supply. This increased burning activity follows a significant 8 percent price increase, with Shiba Inu rising from a low of $0.00001271 to a high of $0.00001398.
This price movement has seen the Shiba Inu cross its 200-day simple moving average (SMA) of $0.00001355, which is a positive sign of increased growth. The burn rate has made supply scarce, resulting in a deflationary impact and a rise in demand.
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A Deflationary Surge: Can the Burn Rate Propel Shiba Inu to New Heights?
The increased burn rate is seen as a critical factor in Shiba Inu’s deflationary model. It continuously reduces the total supply of the token, which could increase scarcity and potentially drive up its value.
In the past seven days alone, over 101 million SHIB tokens were burned, a 637.92 percent jump in the burn rate. Such constant deflationary pressure is attracting the interest of investors and traders, particularly with the coin still on a recovery path.
With Shiba Inu’s burn rate and price increasing, many are wondering whether the two may play together to cause an ideal storm that would see it break out even more. Should the price stay above $0.000014, then it may get a push to $0.000016 or even $0.000018.
The increase in the burn rate, together with the growing momentum of price in Shiba Inu, shows the market’s growing optimism. While the broader crypto market remains volatile, Shiba Inu’s unique tokenomics and recent performance suggest that it could continue to attract investor interest.
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