The Shiba Inu (SHIB) community is buzzing with optimism as the token’s burn rate has skyrocketed by an impressive 2229.01% in the last 24 hours. Over 21 million SHIB tokens have been burned, reducing the circulating supply and increasing the potential for price appreciation. The burn surge, coupled with the anticipated launch of the TREAT token, is sparking a bullish sentiment for SHIB in the short term.
Shiba Inu Burn Rate Hits New Heights
As reported by Shibburn, the Shiba Inu burn rate reached a staggering 2229.01% increase, eliminating 21,065,740 SHIB tokens from circulation. This brings the total supply of SHIB to 589.26 trillion, reducing the overall supply and setting the stage for potential price increases due to scarcity. The SHIB community is hopeful that these efforts will drive the token’s price upward in the coming days.
Price and Market Activity
The SHIB price has seen a noticeable 5.71% increase in the past 24 hours, now trading at $0.00002142. In addition, trading volume surged by 9.60%, reflecting growing investor interest. Despite some bearish sentiments within the community, many are optimistic that SHIB’s recent burn rate surge could lead to a continued upward price movement. Some analysts speculate that SHIB could hit $0.001 in January, bolstered by the adoption of Shibarium, strategic burns, and positive market trends.
Meme Coin Sector Showing Positive Rally
The meme coin sector as a whole is experiencing a positive rally. Notably, Dogecoin (DOGE) has risen by 9.62%, while PEPE has gained 6.37% in the past 24 hours, reinforcing the growing bullish sentiment surrounding meme tokens.
TREAT Token Launch
Adding to the excitement, the highly anticipated launch of the TREAT token is set to take place later today. The TREAT token will be listed on major exchanges such as Kucoin and Gate.io, with withdrawals beginning on January 15. The pre-listing hype around TREAT suggests strong demand, and the token’s launch is expected to bring further visibility to the Shiba Inu ecosystem.
Conclusion
With a record-breaking burn rate, rising SHIB prices, and the impending TREAT token launch, the Shiba Inu ecosystem is showing signs of a potential bullish rally. Investors are watching closely, hopeful that the combined efforts of these initiatives will drive SHIB to new heights in the near future.
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