The Shiba Inu (SHIB) community has witnessed a dramatic increase in its burn rate, fueling bullish sentiment and price expectations. In the last 24 hours, the burn rate surged by an astounding 2200%, eliminating over 21 million SHIB tokens. This sharp reduction in circulating supply aims to create scarcity, setting the stage for potential price upticks in the coming days.
Shiba Inu Burn Rate Soars by 2200%
According to an X post by Shibburn, Shiba Inu’s burn rate has surged by a massive 2229.01%, eliminating a total of 21,065,740 SHIB tokens. This burn has reduced the circulating supply to 589,256,928,688,831 SHIB, a key move designed to drive scarcity and increase demand for the token. The surge in burn activity aligns with growing optimism within the Shiba Inu community, with many speculating that this could pave the way for a significant price rise. Over the past week, the bullish momentum surrounding SHIB has gathered pace, driven by the anticipation of the upcoming TREAT token launch.
HOURLY SHIB UPDATE$SHIB Price: $0.00002128 (1hr -0.01% ▼ | 24hr 2.81% ▲ )
— Shibburn (@shibburn) January 14, 2025
Market Cap: $12,538,652,819 (2.77% ▲)
Total Supply: 589,256,928,688,831
TOKENS BURNT
Past 24Hrs: 21,065,740 (2229.01% ▲)
Past 7 Days: 80,185,510 (-3.9% ▼)
SHIB Price Analysis
Shiba Inu’s price has experienced a notable 5.71% increase today, currently trading at $0.00002142. The 24-hour trading volume has also surged by 9.60%. While market sentiment remains somewhat bearish, the recent spike in SHIB’s burn rate has reignited hope within the community that a price breakout could be imminent. According to CoinGape, SHIB could potentially reach $0.001 in January, supported by the adoption of Shibarium, ongoing SHIB burn efforts, and bullish market trends.
The Impact of TREAT Token Launch
The excitement surrounding SHIB is further amplified by the upcoming launch of the TREAT token. Set to launch today, TREAT will be listed on major crypto exchanges, including Kucoin and Gate.io, with withdrawals beginning on January 15. The token’s pre-listing highlights have shown substantial demand, suggesting that the launch could be a catalyst for further price increases. The addition of TREAT to more platforms will undoubtedly provide greater exposure and attract more crypto enthusiasts.
Also Read: Pepe Coin Price Could Flip Shiba Inu as Analyst Predicts ‘Perfect Storm’
With the Shiba Inu ecosystem’s increasing activity, the coming days could mark a pivotal moment for SHIB and its community.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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