Shiba Inu has seen an exponential acceleration in the number of burns being carried out on a daily basis. In the last day alone, the burn rate has more than doubled.
ShibaInu(CRYPTO:SHIB)has
experienced a surge in the number of tokens burned over the last 24 hours. According to data from the ShibaInu burn tracking website Shibburn, a total of 19.6 million tokens were burned in the last day. This marks a
significant increase from the roughly 10 million tokens that were burned the previous day. The token burns were carried out across 11 separate transactions. The largest burn transaction saw a total of 8.5 million tokens sent to the dead wallet, while the second and third-largest transactions saw 3 million and 2 million tokens burned, respectively. In total, the dead wallet received a combined total of 14.5 million tokens from four separate transactions. Other notable burn transactions included a single address that burned a total of around 7.1 million tokens across three transactions. Another wallet burned 1.1 million tokens across two transactions, bringing the total amount of tokens burned
very close to 20 million. However, despite the increase in the daily burn rate, the weekly burn rate has
continued to fall short of the previous week. According to Shibburn’s data, a total of 96.97 million tokens were burned in the seven-day period, which marks a 48.34%
decrease from the previous week's numbers. ShibaInu Price
Could Reach A New ATH Following the ShibaInu price crash, crypto analyst Zach Humphries recently shared his thoughts on where the price of SHIB might be
headed. According to the crypto analyst, the market cap of Shiba Inu could rise as high as $100 billion from here. Considering that the SHIB market cap is currently sitting at $10 billion, a rise to $100 billion would mean a 1,000% or 10x **increase** from here. This would also put its price as high as $0.00017, which would be a
brand new all-time high price for the meme coin. Other coins mentioned in the post include PEPE, which the analyst puts at a $50 billion market cap, and Base’s BRETT, saying it will get to a $30 billion market cap. For now, though, the ShibaInu price
continues to struggle at $0.000017 after
experiencing a 4.5% crash in the last week. It has also fallen behind Tron’s TRX in terms of market cap, making it the 12th-largest cryptocurrency in the market.
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