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Cryptocurrency News Articles
Shiba Inu (SHIB) Price Prediction: SHIB Receives a Major Boost Thanks to a Massive 700% Jump in Burn Rate and Shitoshi Kusama's Upbeat Comments at the Event Token2049 in Singapore
Sep 24, 2024 at 01:35 am
Shiba Inu received a major boost thanks to a massive 700% jump in burn rate and Shitoshi Kusama's upbeat comments at the event Token2049 in Singapore.
Shiba Inu (CRYPTO: SHIB) received a major boost on Monday thanks to a massive 700% jump in burn rate and upbeat comments from Shitoshi Kusama at the event Token2049 in Singapore.
According to the Shibburn tracker, the recent spike in burn rate saw Shiba Inu burn 772 million SHIB tokens, removing 15% from circulation. This significant reduction in supply has the market expecting an increase in the value of the meme token.
Most of the 14 tokens were burned in one transaction to a dead address. In addition, about 980 SHIB were burned in two other transfers.
Encouraged by these developments, crypto analyst Altcoin Buzz predicts SHIB to rise by 36% to $0.00002, if the current momentum continues.
Project lead for Shiba Inu, Shitoshi Kusama, also spoke at the event Token2049 in Singapore about private developments, which are accompanied by rumors of a potential partnership with Tron DAO. Kusama's tweets hint at significant improvements.
There are currently 583 trillion tokens in circulation for Shiba Inu, while 410 trillion SHIB are locked in dead wallets.
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