Shiba Inu Price Prediction Will 65,529 Percent Burn Spike Boost SHIB’s Value

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Shiba Inu Price Prediction Will 65,529 Percent Burn Spike Boost SHIB’s Value

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Tracy D'souza coingape

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Oct 26, 2024 0 min read

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Originally published at coingape

Shiba Inu’s community is speculating on whether a proposed 65,529% burn rate could significantly drive up SHIB’s price. Token burns reduce circulating supply, theoretically increasing scarcity and, potentially, value. In SHIB’s case, such an extensive burn would need to be implemented consistently and across a substantial amount of tokens to produce a noticeable impact. However, given the token’s high total supply, even this burn rate might yield limited gains unless accompanied by increased demand and utility within the ecosystem. While the burn strategy may add some momentum, SHIB’s price movement will likely still depend on broader market trends and investor sentiment.

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Original article: coingape

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Shiba Inu Price Prediction Will 65,529 Percent Burn Spike Boost SHIB’s Value

Shiba Inu Price Prediction Will 65,529 Percent Burn Spike Boost SHIB’s Value

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