$SHIB Shiba Inu Price Prediction: 602 Million SHIB Tokens Burned in One Go – Could This Be the First Step Toward $1 SHIB?

Based on the latest available data, the price of Shiba Inu (SHIB) has seen a decrease over the past 7 days. Multiple sources indicate a decline ranging from approximately -3.04% to -9.25% over the last week.

This indicates that more SHIB was sold than bought during this period, leading to a drop in its price. However, it's important to remember that cryptocurrency markets are highly volatile, and these numbers can change rapidly.

Shiba Inu (SHIB) is among the worst-performing tokens in the meme coin space this year, with year-to-date losses of 40%. However, after millions of tokens were burned in just a few hours, there could be a reason to support a bullish Shiba Inu price prediction.

The Shiba Inu blockchain is designed to automatically send a portion of Shiba Inu’s transaction fees in SHIB to a burn wallet to reduce the token’s circulating supply.

Shib Burn is a site that tracks how many SHIB tokens are burned in real time. Two days ago, a total of 602 million SHIB were burned in just a few transactions. Surprisingly, 600 million were out in just one single transfer