Shiba Inu Burns Surge 101%: $0.01 Price Incoming For SHIB?

Juhi Mirza
shiba inu shib burns shibarium fire
Source: Watcher Guru

The Shiba Inu (SHIB) ecosystem boasts a robust deflationary mechanism—the one that ensures SHIB’s demand and supply always project a stabilized equilibrium. The said mechanism has recently burned nearly 19 million tokens in its latest push to recover its price momentum.

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Shiba Inu (SHIB) Burn Rate Soars To 101%

The Shiba Inu ecosystem is currently micromanaging a variety of new functionalities. With the new blockchain version of the Shiba Eternity Game on cards, the token is vying to reclaim its lost valuation and is leaving no stone unturned to climb on top of the radar.

Per the latest data available from Shibburn, the SHIB ecosystem has burned nearly 19,603,797 in the last 24 hours, leading the SHIB burn rate percentage to surge to 101%.

Shiba Inu
Source – CoinCodex

With the latest burn mechanism statistics at hand, it seems that the shib ecosystem and community personnel are very interested in putting deflationary pressure on SHIB in hopes of sprucing up its price in the coming future.

SHIB is currently experiencing a stark price slump, with its price stable at a lower price of $0.00001688. The token has been down 4% in the last 24 hours. Despite declining valuations, the SHIB community remains unfazed and continues to support the token despite encountering the bearish onslaught of the market.

Amid such stark times, Shiba Inu’s marketing lead, Lucie, took to X to share how the current market is projecting a rather neutral stance. She reposted a fellow member’s community post, reiterating the fact that one should focus on buying the dips to enjoy the perks later when the market projects a bullish bloom.

Shiba Inu Future: When Will It Hit? $0.01

With the current burn feature in place, the Shiba inu deflationary mechanism can largely help SHIB stabilize and reclaim its spot within the top 10 high-cap crypto races. At the same time, to gain $0.01, SHIB will need to gain nearly 58,957% in valuation to reach its $0.01 mark.

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“Shiba Inu would need to gain 58,957.13% to reach $0.01. According to our prediction algorithm, the price of Shiba Inu will not reach $0.01. The highest expected price our algorithm estimates is $0.0023 by January 1, 2049.”