Shiba

Burn

Impact

Optimism

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inus-burn-rate-surges-boosting-market-optimism/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu’s Burn Rate Surges, Boosting Market Optimism</a><br></p>
<p style="text-align: justify">The popular dog-themed meme <a href="https://en.coin-turk.com/sorare-faces-allegations-for-providing-unauthorized-gaming-services-in-the-uk/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> <a href="https://en.coin-turk.com/analysts-predict-significant-gains-for-shiba-inu-by-2025/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu (<a href="https://en.coin-turk.com/the-profitability-difference-between-bone-shib-and-leash-in-the-shiba-inu-ecosystem/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SHIB</a>) continues to attract attention during a bullish market phase. A significant increase in the burn rate observed on Saturday further solidified market optimism. Recent statistics indicate that the weekly burn rate of the meme coin has nearly surged by 450% after burning over 600 million tokens in the past week.</p>
<h2 id="record-weekly-shib-burn-rate">Record Weekly SHIB Burn Rate</h2>
<p style="text-align: justify">According to a post made by Shiba Inu’s official Shibburn X account on November 16, the weekly burn rate increased by 464%, with 624.5 million tokens burned in the last seven days. This notable increase has led to a considerable reduction in the total market supply of the meme coin.</p>
<h2 id="impact-on-shib-supply-and-ecosystem">Impact on SHIB Supply and Ecosystem</h2>
<p style="text-align: justify">Recent data reveals that Shiba Inu’s current market supply stands at 589.262 trillion tokens. The burning mechanism of the meme coin is seen as a positive factor, helping to reduce token supply according to laws of supply and demand. This situation has generated significant optimism regarding potential price movements for the meme coin.</p>
<h2 id="price-increase-and-trader-gains">Price Increase and Trader Gains</h2>
<p style="text-align: justify">A recent report by CoinGape Media suggests that Ethereum -based tokens have the potential to yield profits for traders. During the recent bullish trend, a cryptocurrency whale reportedly made millions through SHIB trading. This development continues to attract market attention alongside the increase in the token’s burn rate.</p>
<h2 id="future-expectations-for-shib-price">Future Expectations for SHIB Price</h2>
<p style="text-align: justify">Today, SHIB’s price saw approximately a 6% rise, reaching $0.0000251. The cryptocurrency experienced a low of $0.00002319 and a high of $0.00002596 within 24 hours. The market capitalization of the token was recorded at $14.78 billion today, with this increase aligning with the burn rate growth of Shiba Inu.</p>
<h2 id="overall-bullish-trend-in-the-meme-coin-market">Overall Bullish Trend in the Meme Coin Market</h2>
<p style="text-align: justify">Simultaneously, other meme coins like Dogecoin , Pepe Coin, and Dogwifhat also recorded weekly increases ranging from 61% to 101%, reinforcing the bullish sentiment in the market. Developer Shytoshi Kusama’s statements have also heightened market curiosity.</p>
<p style="text-align: justify">A recent analysis by CoinGape Media suggests that Shiba Inu reflects historical patterns, indicating potential parabolic price increases. Market observers maintain high optimism regarding the cryptocurrency’s future performance.</p>
<p style="text-align: justify">The significant increase in Shiba Inu’s burn rate may enhance price pressure by reducing the token’s supply. Continued burning mechanisms could improve the supply-demand balance, contributing to price increases. This scenario presents potential profit opportunities for traders.</p>
<p>The post <a href="https://en.coin-turk.com/shiba-inus-burn-rate-surges-boosting-market-optimism/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu’s Burn Rate Surges, Boosting Market Optimism</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Shiba Inu’s Burn Rate Surges, Boosting Market Optimism

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