Shiba Inu Burn Rate Surges 12,670%: Can SHIB Price Double Soon?

Shiba Inu (SHIB) has once again captured the attention of investors, fueled by a dramatic surge in its burn rate, which could signal potential price gains. On Tuesday, the SHIB burn rate surged 12,670%, shrinking the token’s circulating supply. Data from Shibburn shows that 52 million SHIB tokens were permanently removed from circulation. They were sent to a null address. This jump in SHIB burns comes during a bearish market, where Shiba Inu has fallen by over 18%. The SHIB price dropped to $0.00002511 after trading in the $0.00003 range. This drop has wiped out Shiba Inu’s weekly gains. But the market dynamics haven’t affected the SHIB burn rate. Community members continue to burn tokens in large numbers. Over 2.4 Billion SHIB Burned in Seven Days Over the past week, a total of 2.44 billion SHIB tokens were burned , further reducing the asset’s supply, which now stands at 589.25 trillion tokens. This significant reduction in supply is fueling speculation that SHIB’s price could double soon, particularly as the broader crypto market shows signs of recovery in Q4. Analyst Predicts a Likely 178% Surge for SHIB In a recent analysis shared on X, market … The post Shiba Inu Burn Rate Surges 12,670%: Can SHIB Price Double Soon? appeared first on Coin Edition .