Shiba Inu is making headlines with a dramatic surge in its token burn rate, which has rocketed by 78,273.79% over the past day. This significant increase coincides with a rise in the token's price.
Dramatic Increase in Token Burn
In the last 24 hours, 87,958,122 SHIB tokens have been burned, significantly lowering the total supply. This burning activity correlates with an 8% price increase, rising from a low of $0.00001271 to a high of $0.00001398.
Deflationary Model of Shiba Inu
The increased burn rate is seen as a crucial factor in Shiba Inu's deflationary model. Over the past week, more than 101 million tokens were burned, a 637.92% increase. This constant deflationary pressure is attracting the attention of investors and traders.
Price Predictions for Shiba Inu
With the rise in burn rate and price of SHIB, many are questioning whether these two factors could lead to significant token growth. Should the price remain above $0.000014, it may push towards $0.000016 or even $0.000018. The increase in burn rate, combined with the growing price momentum, shows the market's increasing optimism.
In light of recent developments, such as the sharp rise in burn rates and prices, Shiba Inu shows potential for further growth, capturing investor interest.
