Recently, the Shiba Inu token has garnered attention due to a significant increase in burning volumes and price predictions. Developers have also introduced new technical enhancements.
Shiba Inu Token Burning: A Significant Surge
Yesterday, the token burning mechanism for Shiba Inu saw a dramatic increase of 3500%. A total of 537,187,730 SHIB tokens were removed from circulation. Burn data indicates concentrated transactions occurring within specific timeframes, suggesting coordinated burning efforts across multiple wallet addresses. The largest single burn transaction processed over 310 million SHIB tokens to the BA-1 burn address. Additional transactions from the same wallet processed 103,276,575 and 107,333,061 SHIB tokens respectively during that period. The burn rate at the time of writing stood at 3484.34%, marking one of the highest daily burn percentages recorded for the Shiba Inu ecosystem.
Shiba Inu Price Prediction: Could It Reach $0.000666?
Cryptocurrency technical analysts set a likely price target for Shiba Inu at $0.000666, based on chart patterns and support level analysis. InvestingHaven indicates that SHIB maintained its major support at the $0.000012345 level during key market hours. The chart configuration suggests initial signs of a probable W-reversal pattern formation, which, if successful, could lead to an upward trend to the price level target of $0.000666. Further technical analysis by JAVON MARKS sees SHIB trading in a grand Inverse Head and Shoulders pattern, signaling potential price appreciation and possible gains exceeding 503% to hit an initial target of $0.000081.
New Developments from the Shiba Inu Team: Shib Alpha Layer
The Shiba Inu development team has launched Shib Alpha Layer, a beta version rollup abstraction stack developed in collaboration with ElderLabs and based on Shibarium. This infrastructure upgrade aims to unify multiple RollApps into a single ultra-fast layer and simplify user experience across numerous rollups. SHIB developer Kaal Dhairya shared the technical specifications of the new system, which provides high transaction volume with near-instant finality and offers Web2-level application responsiveness. The architecture allows multi-gas token payment flexibility and is designed to facilitate easy transaction fee payments.
In summary, Shiba Inu demonstrates significant growth and technological advancements, opening new prospects for the token. The increase in burning volume and infrastructural improvements could positively impact its future price and popularity.
