In the past 24 hours, the rate at which Shiba Inu tokens are being destroyed has noticeably increased. Over 21 million SHIB coins have been removed from circulation in this timeframe, leading to a decrease in the total amount available and potentially causing scarcity. This situation could lead to an increase in price in the near future, as many in the community are optimistic about further price hikes, particularly with the upcoming release of TREAT tokens.
Shiba Inu Burn Rate Soars by 2200%
Based on a recent post by Shibburn, the rate at which Shiba Inu tokens are being destroyed (or “burned”) has skyrocketed by an astonishing 2229.01% over the past day. This burning process eliminated approximately 21,065,740 SHIB tokens from circulation. As a result, the total number of Shiba Inu tokens now stands at an impressive 589,256,928,688,831. The purpose behind burning SHIB tokens is to artificially limit their supply, which could potentially drive up their price due to the reduced amount in circulation.
Over the past week, my analysis on SHIB has shown a noticeable uptick in bullish sentiments. The coin’s popularity seems to be gathering momentum, with a growing buzz suggesting that it could be poised for takeoff, particularly in anticipation of the upcoming launch of TREAT tokens.
SHIB Price Analysis
Today’s price for Shiba Inu has increased by approximately 5.71%, currently trading at around $0.00002142. There’s been a substantial surge of 9.60% in its 24-hour trading volume. While the general feeling towards SHIB remains bearish, the community is optimistic about the price rise following an increase in the Shiba Inu burn rate.
According to a study by CoinGape, it seems highly likely that the price of SHIB could rise to around $0.001 in January. This potential increase is supported by the anticipated launch of Shibarium, intentional token burns, and positive market conditions.
In summary, popular meme coins have seen an increase in their values over the past 24 hours. To give you an idea, Dogecoin (DOGE) has risen by 9.62% and Pepe Coin (PEPE) has surged by 6.37%. This surge indicates a growing optimism among crypto enthusiasts towards meme coins.
TREAT Token Launch
Furthermore, the launch of the TREAT token is set for today. Notable crypto exchanges like Kucoin and Gate.io have announced their intention to list TREAT. Starting from January 15, withdrawals for TREAT will be available. Account holders on these listed platforms are eligible to receive TREAT airdrops.
In the near future, other platforms plan to feature the TREAT token, increasing its exposure for crypto fans. The strong interest in the TREAT token, as evidenced by pre-listing indicators, underscores a high level of demand prior to its official release.
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2025-01-15 07:50