SHIB May Rise To $0.01 Due To These Factors Besides Burning By Shibburn Company: Details

Tomiwabold Olajide

Here are factors that can bring SHIB to $0.01 per Shibburn company in addition to burning:

From Shibburn TwitterAlthough there are many SHIB burns, it remains far from having a real impact on the price of Shiba Inu. At the time of publication, Shiba Inu was trading at $0.000022, down 2.11% in the past 24 hours according to CoinMarketCap. Due to disappointing price performance in recent months, SHIB remains 75% lower than its all-time high of $0.000088 reached in October 2021.

In a series of tweets, Shibburn mentions several factors that could push the SHIB price up, even reaching the coveted $0.01. While this may seem like a distant dream given the current market conditions, the SHIB combustion company believes that doing more for the SHIB community – such as hodling and staking – could help the Shiba Inu price aside from burning.

Shib burning progresses

There have been a total of 10,774,126 SHIB tokens in the last 24 hours burned in eight different transactions. Subsequently, several transactions were reported in which millions of SHIB were burned, leading to more than 700 million SHIB being burned in 24 hours.

According to the Shibburn websitethe Shiba Inu burn rate has increased a whopping 5,926.8% in the last 24 hours to 739,234,434 SHIB tokens burned in the last 24 hours.

Sharing the details of the progress made in token burning, Shibburn reports: that ” 61.8 billion SHIB were burned without including Vitalik’s combustion. More than 25.5 billion SHIB tokens were burned due to ShibaSwap listings and Shiboshi’s renaming fee. The first Shiba Inu transaction sent to the dead wallet in 2020 was for 26.9 billion tokens.”

So far a total value of 410,304,552,937,451 SHIB has been burned from the initial supply of 1 quadrillion.

Shibburn also reported a massive token burn in August and September 2021, stating, “Over 7.2 billion tokens burned in August and over 6.9 billion SHIB tokens burned in September 2021. It was made clear that the Shiboshi – and ShibaSwap listing fees were limited burn mechanisms. †

In addition to the massive SHIB burning, there is also massive accumulation by whales. According to a recent tweet published by Whale Statisticsa mysterious ETH whale has purchased 49,651,432,412 SHIB tokens, worth $1,094,317.

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