Shiba Inu Burn Rate Skyrockets 1400% After 105M SHIB Sent To A Dead Wallet: Analyst Predicts Potential 2X Rally By December
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) experienced a 1400% increase in its burn rate as 105 million SHIB tokens were sent to a dead wallet. The Manny Pacquiao Foundation announced it will adopt Shiba Inu's Shibarium for fundraising. Crypto analyst Captain Fabik predicts a potential 2x rally for SHIB by December if a current retest is successful. SHIB is trading at $0.0000087, down 1.21% over the last 24 hours.
November 17, 2023 | 6:16 am
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Shiba Inu's burn rate surged 1400% with 105M tokens burned, potentially reducing supply and driving up price. Adoption by Manny Pacquiao Foundation could increase demand. Analyst predicts 2x rally by December.
The significant increase in SHIB's burn rate could indicate a reduction in supply, which may lead to price appreciation. The adoption of SHIB by a charitable foundation could increase its visibility and demand. The analyst's prediction of a potential 2x rally provides a positive outlook, but as with all analyst predictions, it should be taken with caution.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100