Here’s Why the Shiba Inu Burn Portal Could Lead To 100x Gains

Vignesh Karunanidhi
Here’s Why the Shiba Inu Burn Port Could Lead To 100x Gains
Source: Bitcoin News

Shiba Inu has been slowly pacing in and consolidating over the last months. The slow move might take a backstroke for the investors, but it could potentially be the silence before the storm.

As per the pre-historical market conditions, Shiba Inu has rallied higher in similar situations. Shiba Inu had a glorious start to the year with new developments dropping like hailstones.

From the release of the Shiba Metaverse to the Robinhood listing, the SHIB community was in for a treat. The community also welcomed the launch of the SHIB portal that went live on April 23, 2022.

Source: Coincu News

The SHIB burn portal could be the trigger point

The SHIB Burn portal was deployed with a vision to burn the total SHIB in circulation. This burn portal aims to reduce the supply, which in turn will increase the demand and hike the price.

Generally, the entire concept of burning is the process of sending tokens to a burn address or a dead wallet where absolutely no one has access to the wallet or its keys.

The SHIB Burn portal also seemed to have been highly active as it burned over 10 billion SHIB since its launch. Among the herd, one transaction stands out as a single user burned over 1 billion SHIB in one transaction.

Source: Shiba burn

Much awaited Shiba Inu integration

The Shiba Inu portal is still in its early stages as the team is looking to integrate SHIB, the Metaverse, ShibaSwap 2.0, and Shibarium into it.

When deployed in its full fledge, the integration may assist Shiba Inu in hitting its all-time high. A look at Shiba Inu shows that the Average directional index has been the lowest since October 2021. And at that time was just then when SHIB started soaring like a rocket by more than 1034%.

The rally at that time placed the meme coin under the radar, and the SHIB community started growing.

But a similar rally is less likely to occur but can definitely ascend to recover some of its last week’s losses. The SHIB community has shown and proved its presence with well-established community support.

With the upcoming developments in talks, the coin is definitely aiming for the moon.