SHIB destruction rate continues to rise, Shiba Inu coin price will skyrocket

SHIB destruction rate skyrockets and the price of Shiba Inu coin SHIB will skyrocket! Shiba Inu (SHIB) has gained 8% in price this week and is currently trading at around $0.000025. The Shiba Inu's burn rate soared by 200%, signaling potential scarcity. On the other hand, Galaxy Fox (GFOX), a new low-cap meme coin project that combines gaming and NFTs, emerged as a potential contender to watch in June.

Today, the editor of this site will share with you the details of the skyrocketing SHIB destruction rate and the skyrocketing price of Shiba Inu coin SHIB. Friends who need it can take a look!

Shiba Inu burn rates soar

Shiba Inu burn rate surged an astonishing 180% today, according to Shibburn data. The burn rate refers to the number of tokens that are permanently removed from circulation, which helps effectively reduce the overall supply.

A higher burn rate is generally viewed as a positive development, as it increases the scarcity and value of remaining tokens over time.

SHIB Price Prediction

According to insights from altFINS, a well-known cryptocurrency analysis platform, $SHIB price trends show a series of important characteristics. They note that the price remains on an upward trajectory after breaking out of a falling wedge pattern and entering a bullish trend. The price has successfully retested the breakout level and may move towards $0.000035 in the near future.

altFINS highlights that the short-term, medium-term and long-term trends are all upward, showing strong bullish momentum. However, they also warned that the momentum indicator is pointing to a possible downward trend as the MACD histogram bars are falling, suggesting that momentum may be near a peak.

According to their analysis, SHIB’s nearest support zone is $0.000025, followed by $0.000015, while the nearest resistance zone is $0.000035, followed by $0.00004.

Considering the positive price trend and the potential for further gains, altFINS recommends setting a price alert at the $0.000035 level.

New Low Cap Meme Coins to Watch

While the Shiba Inu has always been a headline-grabbing topic, one called Galaxy Fox (GFOX) New meme coins have become potential competitors in the field of meme coins and GameFi. Galaxy Fox had a public pre-sale for several months, raising over $6 million during that time.

The project was listed on Uniswap and Dextools in April, and after initial selling pressure, the market cap is currently hovering around $500,000.

Galaxy Fox combines elements of meme coins, earn-while-playing games, and non-fungible tokens (NFTs). The core feature of the project is its Web3 Endless Runner game, where players can earn GFOX tokens based on their performance in the game.

The top 20% of players in each season will be rewarded with GFOX tokens to motivate players to improve their game level. The project released a beta version of the game on May 12.

Additionally, Galaxy Fox plans to offer 3,000 unique NFT assets for players to purchase. These NFTs provide temporary attribute boosts and special in-game abilities, adding a strategic element to the gaming experience. NFTs can also be traded on the Galaxy Fox Marketplace, creating economies within the ecosystem.

Conclusion

With Shiba Inu consumption rates surging and price trends turning bullish, investors and traders are closely watching for signs that SHIB prices may rise.

While the Shiba Inu continues to attract attention, a new low-cost meme coin, Galaxy Fox, has emerged as a potential contender to watch in the coming months, offering meme coins, gamified earning A unique combination of Fetch and NFT.

Investors should stay informed and make informed decisions based on their risk tolerance and investment strategy, especially for meme coins. However, GFOX looks to be the hot new meme coin to watch in June.

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