Shiba Inu Price Prediction: Burn Rate Surges 6,500% in 24 Hours – SHIB Preparing for a 5x Rally
Main Idea
The Shiba Inu (SHIB) price has experienced significant volatility, with a recent 6,500% surge in burn rate followed by a sharp decline, while long-term predictions suggest potential growth due to ecosystem expansion and utility.
Key Points
1. Shiba Inu's price dropped 7.5% in 24 hours, with a 5% weekly decline and a 21% drop from a recent peak, despite a 16% monthly gain.
2. SHIB's burn rate surged by 6,500% earlier in the week but then fell by 94%, indicating high volatility in activity.
3. The weekly burn count is up by 388%, with a total of 410.75 billion SHIB burned, reducing the circulating supply to 589.25 billion SHIB.
4. Technical indicators like the RSI and MACD suggest potential further short-term losses, but long-term predictions anticipate a possible 5x gain due to ecosystem growth.
5. TOKEN6900, a new meme coin, raised $1 million in its presale, leveraging viral marketing and community engagement.
Description
The Shiba Inu price has plunged by 7.5% in the past 24 hours, dropping to $0.00001364 as most major alts suffer big losses today. This means that SHIB has fallen by 5% in a week, and while it does remain up by 16% in a month, it has also suffered a disappointing 21% decline in the past year. Today’s drop also comes as SHIB’s burn rate fluctuates wildly, with this rate having surged by 6,500% earlier this week, but then having fallen by 94% in the past 24 hours. Yet , with Shiba Inu arguably havi...
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