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Shiba Inu Price Set for 2022 Move as 9 Businesses Join SHIB Burn Pledge

u.today 03 January 2022 15:00, UTC
Reading time: ~2 m

Nine businesses have teamed up for the SHIB Burn Pledge, an initiative that promises to burn a fixed percentage of profits, sales or a dollar amount to the official SHIB burn wallet. Shiba Inu's price is consolidating in a manner that preceded the October 2021 bullish run, trading at $0.000034 at press time.

Shiba Inu declined to enter sideways movement after its impressive rally to all-time highs of $0.0000889. Shiba Inu had a 30% run in late November 2022 after the Kraken exchange announced its listing.

Shiba Inu is presently trading in a triangular pattern. Going forward, one of two things might happen: a breakout past current levels could trigger an 18% run-up to recent highs at $0.0000399. Further upside moves may attempt targets at $0.000055 and $0.000065. Alternatively, a retest of the demand zone might seek support between $0.000032 to $0.000028.

Nine businesses join SHIB Burn Pledge

It is barely three days into 2022, and the Shiba Inu token burn seems to progress at a steady rate. Steven Cooper, CEO of Bigger Entertainment, a crypto record label, shared news of the 2.75 million Shiba Inu token burn on Jan. 3. The CEO announced that a total of 889,483,100 SHIB tokens has been burned since it announced its burn campaign on Oct. 20.

Another 2.75 Million #shib gone forever. Bringing our total burned to 889,483,100 since launching our campaign on Oct. 20th. We're excited for what 2022 will bring!

Receipts, a burn counter, & playlists can be found at: https://t.co/qAZCxRSOss

Etherscan: https://t.co/wLRv7Ktebe

— Steven Cooper (@iamstevencooper) January 3, 2022

In a major burn campaign, nine businesses have joined the SHIB Burn Pledge that promises to burn a fixed percentage of profits to the official SHIB burn wallet.

The list of companies includes...

Shiba Coffee Company: A coffee-shipping company that supports the Shiba ecosystem. It states that 100% of its profits will go toward buying SHIB, 10% of which will go toward burning SHIB.

Bigger Entertainment: A crypto record label with a variable SHIB burn, in which artists agree to donate 20% of royalties to burn SHIB.

The Vibe Maquillage: A cosmetics line that burns 15% of all sales made in SHIB.

Marklien: A knitted apparel store. Twenty-five percent will be burned from all purchases using SHIB as a payment method.

Precious Paws: Deals in dog accessories and toys, and 20% of its profits will be used in burning SHIB.

Cryptoon Network: Twenty-five percent of its sales will be used to burn SHIB.

Save The F**king Trees: Seventy-five percent of earnings from gear and art will go to burns.

THE SHIBETTES | 1/1 NFTs: Burning a percentage of the proceeds from NFT sales.

Shiba Search: This will burn a percentage of ad revenue.

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