The Shiba Inu cryptocurrency has recently been under the spotlight due to a significant increase in its burn rate, which surged by 7,400% this past week. This sharp rise in the destruction of SHIB coins has caught the attention of market watchers who are speculating on its potential price movement.
Saturday's statistics revealed that approximately 2 billion SHIB coins were removed from circulation. This substantial burn indicates active efforts to reduce the supply, a strategy that can potentially influence Shiba Inu's price dynamics.
As a result of these developments, there is heightened anticipation among crypto enthusiasts regarding the potential for Shiba Inu's price to reach a target of $0.0004. The increased burning activity aligns with bullish sentiment in the market.
