SHIB INU BURN RATE EXPLODES, BUT WILL PRICES FOLLOW THE LEAD?

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SHIB INU BURN RATE EXPLODES, BUT WILL PRICES FOLLOW THE LEAD? 🚀💸

SHIB INU BURN RATE EXPLODES, BUT WILL PRICES FOLLOW THE LEAD?

Good heavens, it seems the Shiba Inu burn rate has gone utterly mad, increasing by a staggering 104,201% in a single day! 🤯 Over 115 million SHIB tokens have been removed from circulation, leaving the crypto community in a state of utter bewilderment.

Now, I know what you’re thinking: “Will this increase in burn activity lead to a price rally, or is it just a bunch of hooey?” Well, my dear fellow, the answer is not quite clear-cut. Despite the optimism within the Shiba Inu ecosystem, SHIB’s price has remained stubbornly static.

Shiba Inu Burn Rate Outlook 🤔

According to the esteemed Shibburn, Shiba Inu’s burn rate has increased exponentially, with the project removing a whopping 115,890,322 SHIB tokens from circulation. This, my friends, is no small feat.

Now, burning tokens does reduce the total supply, which can potentially increase prices if demand matches up. But, as we all know, the crypto market is a bit of a wild card, and nothing is ever quite as simple as it seems.

HOURLY SHIB UPDATE
$SHIB Price: $0.00001233 (1hr -0.64% â–¼ | 24hr -3.13% â–¼ )
Market Cap: $7,272,787,773 (-3.46% â–¼)
Total Supply: 589,252,374,218,381

TOKENS BURNT
Past 24Hrs: 115,890,322 (104201.39% â–²)
Past 7 Days: 1,170,542,199 (7.94% â–²)

— Shibburn (@shibburn) April 2, 2025

It’s worth noting that the wallet address “0xc439514852e132c” has been identified as a key player in this increase, burning a staggering 92.64 million SHIB in one go. This, my friends, is a feat worthy of note.

But, I must ask, will this increase in burn activity lead to a price rally? Only time will tell, my friends. Until then, we’ll just have to keep our fingers crossed and our eyes on the charts.

Shibarium Reaches Milestone, SHIB Falls 🚫

Alongside the increase in the deflationary metric, Shiba Inu’s Layer 2 blockchain, Shibarium, continues to show positive progress. As reported by Coinspeaker, the Shibarium transaction count reached a major milestone, surpassing 1 billion in March.

Now, I know what you’re thinking: “But what about the price?” Ah, my dear fellow, that’s the million-dollar question. Despite the promising burns, SHIB’s price seems to be struggling, down by 3.28% in the last 24 hours.

Market data shows that SHIB has dropped by 20% over the past week, leaving investors cautious. While some are optimistic that the burns will drive the price up, this has not yet played out. This, my friends, is a tale of woe and uncertainty.

But, as we all know, the crypto market is a bit of a wild card, and nothing is ever quite as simple as it seems. So, we’ll just have to keep our fingers crossed and our eyes on the charts.

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2025-04-02 21:35