Key Highlights:
- Massive Burn Surge – SHIB burn rate soared 2000%, with 14 million tokens removed from supply.
- Bullish Momentum – Continuous burns suggest a potential price breakout for SHIB.
- Analyst Prediction – Crypto expert sees SHIB hitting $0.000081 based on technical patterns.
Shiba Inu Burn Rate Surges, Boosting Market Sentiment
The Shiba Inu (SHIB) burn rate skyrocketed 2000% on Friday, sparking optimism among investors despite a broader downturn in the crypto market. According to data from Shibburn, approximately 14.27 million SHIB tokens were permanently removed from circulation in just 24 hours.
With nearly 98 million tokens burned this month, the trend signals a bullish shift for SHIB’s price, driven by consistent supply reductions.
Weekly and Monthly Burn Data Indicate Bullish Potential
Weekly Burn: 58.28 million SHIB removed from circulation over the past seven days.
Monthly Burn: The community tracker reports 98.85 million SHIB burned this month, averaging 7.06 million tokens per day.
Total Supply Impact: SHIB’s total supply is now 589.25 trillion, with 410.7 trillion tokens permanently burned.
SHIB Price Shows Strength Amid Market Uncertainty
At the time of writing, SHIB trades at $0.00001661, reflecting a 2% daily gain and 9% weekly increase. This aligns with the growing burn rate, hinting at a possible price breakout.
Analyst Predicts SHIB Breakout to $0.000081
Crypto analyst Javon Marks believes SHIB is forming a large Inverse Head & Shoulders pattern, a classic bullish indicator. Marks suggests SHIB could rally to $0.000081 if the burn rate continues at this pace, significantly reducing supply.
With the Shiba Inu community aggressively burning tokens, investors remain optimistic about SHIB’s long-term potential. Could this be the start of a massive breakout?
