CandleFocus Shiba Inu Burn Rate Skyrockets 2,000%, What's Next for SHIB Price?
2025-02-14
Author: Content Editor
The burn rate of Shiba Inu (SHIB) has experienced a significant increase, reversing the recent downward trend. In a 24-hour period, the SHIB burn rate surged by 2,004.92%, with five separate wallets contributing to this increase. Approximately 14,279,657 SHIB has been permanently taken out of circulation, totaling 410,744,431,658,176 SHIB burned. One wallet in particular, with the identifier "0x541f...886e0," burned 13,000,911 SHIB to establish a new benchmark. This surge in SHIB burning has resulted in optimism within the Shiba Inu community, as experts speculate on the potential for further growth in the short term. Despite currently trading below $0.00002, the ecosystem has focused on real-world utility and global partnerships to drive its growth. Shibarium, the network's layer-2 scaling solution, has also demonstrated increased usage, indicating positive sentiment and the potential for long-term price growth for SHIB.
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