The post Shiba Inu Burn Rate Rises 2000% Hinting At SHIB Price Breakout appeared on BitcoinEthereumNews.com.

Shiba Inu burn rate took off 2000% on Friday, boosting market sentiment for the asset despite a broader crypto sector slump. Recent burn metrics highlighted that the massive surge stands primarily attributable to roughly 14 million coins removed from the asset’s market supply in a day. As an upshot, investors eye a bullish movement for SHIB price ahead, fueled by constant hits to the supply as nearly 98 million coins are burned this month. Shiba Inu Burn Shoots Up 2000% Uplifting Market Sentiment According to the latest data by Shibburn on X, the Shiba Inu burn rate sky shot 2004.94% in the past 24 hours. This massive surge is due to 14.27 million tokens removed from the supply intraday. For context, the token burn mechanism reduces the asset’s market supply, offering bullish support to tokenomics. Traders and investors eye this as an optimistic development, anticipating price gains for SHIB ahead. Weekly SHIB Burn Data Simultaneously, it’s worth taking into account that 58.28 million coins were purged from the supply over the past week. This metric further tilts the scales toward the bullish side for the leading meme coin, magnetizing investors to buy the token. Monthly Burn Data Also, burn statistics unveiled by the community’s tracker showed 98.85 million Shiba Inu tokens were burned this month. On average, the community recorded 7.06 million tokens burnt in a day. SHIB Price Braces For Impact? Overall, the constant blows via SHIB burns pulled down the total supply to 589.25 trillion tokens as of press time. Further, 410.7 trillion tokens were sent to a null address, aka burnt, to date. This stat suggested that the asset’s community is close to witnessing nearly 50% of the supply removed permanently. Source: Shiba Burn Statistics As a result, traders and investors remain highly optimistic about a bullish…

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Filed under: News - @ February 15, 2025 12:21 am