Shiba Inu’s 1300% Burn Rate Surge: Is $0.000081 in Sight? 🚀🔥

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Amidst the chaos of a market that seems to teeter on the edge of a cliff, Shiba Inu’s burn rate has become a beacon of hope for many investors. On Thursday, the burn rate skyrocketed by 1300%, with over 30 million tokens sent to the great void, never to be seen again. This surge in burn rate has sparked a glimmer of optimism, with some top analysts predicting a potential 450% pump in SHIB’s price. 📈✨

According to data from the official tracker Shibburn on X, Shiba Inu’s burn rate spiked 1306% on February 27. This monumental increase comes on the heels of 30.15 million tokens being permanently removed from circulation in a single day. For context, the meme coin’s burn mechanism is akin to a digital bonfire, where tokens are sent to a null address, making them irretrievable and thus reducing the supply. This process, in theory, should bolster the token’s value. 🌟🔥

Market watchers are now reflecting substantial optimism surrounding SHIB’s price prospects, given that a staggering 410.744 trillion coins have been burned to date. The circulating supply, as of press time, stands at 584.32 trillion tokens. Notably, 257.65 million tokens were burned this month (February), further fueling the bullish sentiment among traders and investors. 📊🚀

As of press time, Shiba Inu’s value has seen a 3% jump, trading at $0.00001469. The coin hit an intraday low of $0.00001377 and a high of $0.0000147. Intriguingly, the surge in Shiba Inu’s burn rate appears to be aiding the meme coin in outperforming both Bitcoin and Ethereum amidst broader market volatility. Community member SHIB KNIGHT on X highlighted this trend, noting that while Bitcoin and Ethereum have seen alarming dips due to Donald Trump’s new EU tariffs, the Ethereum-based meme token has managed to jump. 📉BTC 📉ETH 📈SHIB

Renowned market analyst Javon Marks also weighed in on X, citing bullish historical trends that suggest gains ahead. Marks revealed that SHIB’s price continues to hold its breakout, which occurred in late 2022/early 2023. “With this price breakout holding, the target for SHIB continues to be at the $0.000081 point, which is currently over 450% away,” the analyst concluded. Overall, market watchers remain highly bullish on the meme coin’s long-term prospects, given the aforementioned market statistics. 📈💪

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2025-02-27 10:50