According to a recent X post by Shibburn, over 320,186,507 #ShibaInu: tokens were sent to a dead wallet, in order words, āburntā. DespiteĀ this number of tokens only representing a tiny fraction of Shiba Inu supply, this represents an 880% burn rate for the meme coin in the past week.
The increase in the Shiba Inu burn rate also represents a burning interest from its community to reduce its supply and potentially trigger a surge in the $SHIB
price. With a significant burn rate like this for Shiba Inu, speculations are flying that the #SHIBŲ price could see an increase to $0.05.
The current weekly price range for the SHIB price is $0.00001767 ā $0.00001943, but if the Shiba Inu burn rate keeps increasing, the SHIB price could skyrocket to levels around $0.05. Such an increase in the SHIB price would signify an over 260,000% rise for Shiba Inu, which is not an uncommon growth for meme coins.
