Important Shiba Inu Metric Shoots Up 1250% in 24 Hours—Will SHIB Delete a Zero from Its Price Heading into September?
The post Important Shiba Inu Metric Shoots Up 1250% in 24 Hours—Will SHIB Delete a Zero from Its Price Heading into September? appeared on BitcoinEthereumNews.com.
In a startling development, Shiba Inu’s burn rate has surged by 1,250% in just one day, marking a significant uptick in the token’s deflationary efforts. Despite this dramatic increase, the price of SHIB has only risen by 1.6%, raising concerns about the effectiveness of token burns. Some experts urgue that while Shiba Inu (SHIB) may inch closer to its goals, the reality of deleting a zero from its price remains highly unlikely within the near term. Shiba Inu’s Burn Rate Soars 1,250%: Will SHIB Reach $0.0001 in September? The Shiba Inu burn rate has surged dramatically by 1,250% in just 24 hours, catching the attention of the crypto market. This significant spike in burn activity has briefly lifted SHIB’s price by 1.6% during the trading session. The burn involved 22.7 million tokens from one wallet, while two others contributed over 1.3 million tokens combined. This is a notable increase from recent periods where burn rates had significantly slowed, with only a few hundred thousand tokens being removed from circulation. Despite this dramatic rise, reaching a price of $0.0001 seems highly improbable for Shiba Inu in the immediate future. To illustrate, the 32 million SHIB tokens burned recently, while a substantial number, only represent a value of under $500 based on SHIB’s current price of $0.000014. Thus, the long-term prediction for SHIB to hit this mark remains distant, requiring extensive and consistent burn activity. MoonTaurus Rises Among Meme Coins Amid this volatility, MoonTaurus (MNTR) is capturing investor attention with its impressive presale performance. Now in Stage 2 of its presale, MoonTaurus is priced at $0.01, a price point that provides an appealing entry for investors. The token’s trajectory suggests substantial growth potential, especially considering that Phase 1 of the presale sold out rapidly, raising $300,000. The token’s current presale phase has…
Filed under: News - @ August 31, 2024 12:08 pm