The burn rate of the Shiba Inu (SHIB) coin has increased by 600%, resulting in over 3 million tokens being removed from the market. This has sparked debates among investors and analysts about the potential for SHIB's price to rise. Following the burn event, SHIB's price increased by 4%, indicating trader optimism that the reduced supply will lead to higher prices. This price increase coincides with a bullish trend in the overall cryptocurrency market. Experts predict that SHIB could climb to $0.00004029 based on historical data and market trends. Analysts also suggest a potential bullish trend for SHIB, with a target of $0.00004170, assuming key support levels hold steady. The sentiment surrounding SHIB's price is positive, as the burn event demonstrates the developers' commitment to the token's value. Other meme coins, such as Dogecoin and Pepe, have also experienced price increases due to the general trend in the meme coins market. Dogecoin's price rose by 5.59%, while Pepe's price increased by 3.76%, but with lower trading volumes indicating potentially fading bullish sentiment in the near term.



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