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Shiba Inu’s incendiary surge: Over 15B SHIB burned in March blitz

source-logo  finbold.com 02 April 2024 12:17, UTC

Although Shiba Inu (SHIB) has slowed down and started to reverse the gains it accumulated in previous weeks alongside the rest of the cryptocurrency market, it is recording increased activity on its network, particularly in terms of burning of its excess tokens.

As it happens, the Shiba Inu network witnessed a massive growth in burn rate in March, having successfully burned as many as 15.6 billion SHIB tokens over the course of the month alone, according to the data obtained from the SHIB burn tracker platform Shibburn on April 2.

In other words, the SHIB burn rate in March has soared by an impressive 2,330.54%, and further breaking down the numbers shows that the single most successful day was March 8, during which the network recorded almost 14 million SHIB burned in total.

Shiba Inu price analysis

So, how much is a Shiba Inu wholecoin right now? For the moment, SHIB is changing hands at the price of $0.00002643, which suggests a decline of 8.73% in the last 24 hours, a 12.31% drop across the previous seven days while still holding onto the 21.60% gain over the past month, as the latest charts indicate.

Shiba Inu price prediction

So, how high can Shiba Inu go and will Shiba Inu coin reach $1 any time soon? While it is difficult to tell with precision, it is important to note that early Bitcoin (BTC) adopter Davinci Jeremie has recently recommended his followers to include SHIB in their portfolios, which represents a good sign in the long run.

Yes. https://t.co/C3Wj5De5Xa

— Davinci Jeremie (@Davincij15) March 31, 2024

In conclusion, Shiba Inu has made extraordinary progress in its burn rates, which, combined with the development of the Shibarium network, could reflect positively on its price. However, making any specific SHIB price prediction is challenging, so doing one’s own research and keeping up with any SHIB news is critical before investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.