Hold on to your seats because the crypto dog has gotten riled up again! 🔥🐶 What the hell is happening with Shiba Inu that its "burn" rate skyrocketed over 48,000% and everyone is talking about it possibly being worth $0.00002?
Attention, folks! The crypto that many have labeled as a "meme" is making a statement that nobody saw coming. It turns out that in the last 24 hours, the Shiba Inu community got to work and burned over 87 million tokens! 🔥 It’s a brutal move, a 48,244% increase in the burn rate. For those who don’t know, "burning" means that those tokens are destroyed forever, making the remaining ones in circulation scarcer and, in theory, more valuable. It's like suddenly having the purge party, but with coins. 💥
This move is not an isolated incident. It aligns with a massive increase in the activity of "whales", those investors who move gigantic amounts of money. They started moving their tokens like crazy, a 188% increase in their transactions! 🐳 This is a clear indication that the big players are seeing something.
The price of SHIB has remained strong and resilient above the key level of $0.000010 for months. It's its barrier, the floor that prevents it from falling further. And now, with this tremendous token burn, analysts are already throwing out their predictions: if things continue like this, SHIB could hit the mark of $0.00002. 📈 Imagine that jump!
And as if that weren't enough, the Shibarium network, which is the highway where Shiba Inu transactions take place, has just broken its own record. It has surpassed 1.5 billion total transactions. One point five billion! 🤯 This is not just a pretty number; it shows that the network has real use, that people are using it a lot, and that it is not just a passing trend.
The real impact here is twofold: on one hand, they are aggressively reducing the supply of tokens, which pressures the price upward. On the other hand, the use of their network is exploding, which validates the project and makes it more than just a simple meme. Together, these two things are creating a rocket that could take Shiba Inu to levels we haven't seen in a long time.
Could this be the start of a new rally for the dog that wanted to dethrone Dogecoin, or just a spark that burns out quickly? 🐕🦺 Time will tell, but it is undoubtedly time to keep a close watch.
