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Analysis of Recent SHIB Token Burns and Market Response Blockonomi 23 sep. 2024

Analysis of Recent SHIB Token Burns and Market Response 🔥

The popular meme cryptocurrency Shiba Inu (SHIB) has seen a significant increase in its token burn rate. Over the past 24 hours, the burn rate spiked by more than 700%, resulting in the incineration of 15.08 million SHIB tokens. This remarkable surge has drawn attention from investors and analysts alike.

On a weekly basis, the burn rate increased by 313%, with a total of 44.20 million SHIB coins destroyed. This substantial reduction in circulating supply is believed to have a potential lasting impact on the market dynamics of SHIB.

Currently, the SHIB price is trading around $0.00001468. Some analysts are optimistic about the future, predicting potential gains of over 30%, pushing the price to the $0.00002 level. This bullish sentiment is based on the reduced supply and increased interest in the cryptocurrency.

Fuente: blockonomi.com ↗

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