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Shiba Inu Burn Rate Rockets Over 7000%, SHIB Breakout Ahead?

source-logo  coingape.com  + 1 more 31 January 2025 09:05, UTC

The Shiba Inu burn rate has again fueled substantial market optimism across the crypto landscape, witnessing a whopping 7200% surge on Friday. As over 1 billion tokens were removed from the asset’s circulating supply in the past 24 hours, a bullish market sentiment bubbled the meme-themed asset. Further, with on-chain metrics reflecting strong market support for the crypto, an upshot is that investors eye SHIB price gains ahead despite the current market volatility ahead of the U.S. PCE inflation data release.

coingape.com

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