Shiba Inu (SHIB) Burn Rate Soars by 8,000%: A Bullish Signal for the Crypto Market?

Shiba Inu is making headlines again after its burn rate skyrockets 8,000%. Is this bullish news for SHIB a sign of a bull market?

This major milestone has sparked excitement within the cryptocurrency community, with many believing it could lead to a broader market upswing.

The SHIB community, known as the “Shib Army,” has reason to celebrate as the project continues to strengthen the ecosystem with new developments and exciting updates.

Shiba Inu’s Bullish News and Project Development

Shiba Inu’s official X account recently highlighted that the burn rate has increased by 8,000%, resulting in a large amount of SHIB tokens being removed from circulation.

Designed to increase scarcity, this burn mechanism plays a key role in driving the project’s growth strategy and, together with other ecosystem advancements, strengthens the project’s long-term vision for decentralized finance (DeFi).

The SHIB ecosystem continues to grow with new developments such as K9 Finance’s liquidity staking, providing users with new opportunities to participate and earn within the Shiba Inu community.

Additionally, SHIB Eternity, a Web3 legal framework, is in development, positioning Shiba Inu as a major player in the DeFi industry. These updates show that the project is actively evolving to meet the demands of the cryptocurrency market while staying relevant.

Shiba Inu has also achieved two major milestones: the Shibarium blockchain has minted over 140,000 NFTs and the launch date for SHIB staking has been announced. These milestones aim to spur further growth within the SHIB ecosystem and strengthen its position in the DeFi space.

Shiba Inu Price Prediction

The entire cryptocurrency market is showing signs of heating up, with Bitcoin nearing the $60,000 mark, which could spark an all-out bull market. As the stock market and gold rise, other assets related to Bitcoin, such as meme coins, could also rise.

Many are expecting the market to surge soon, even though the Fear and Greed Index showed fear levels between 33 and 36. While the market is up 2.3%, the spotlight today is on meme coins, specifically Shiba Inu (SHIB).

SHIB has recently experienced a spike in burn rates. On September 11, Shibburn X reported an 8,193% increase, with over 3.1 million tokens disappearing in eight transactions. One of these burns sent 1 million SHIB to a dead wallet.

SHIB’s price then hit $0.00001367 before dropping slightly to $0.00001359. Currently, SHIB is trading at $0.00001328, down 3.65% in the past 24 hours, according to CoinMarketCap. With a market cap of $7.82 billion, SHIB ranks in the top 13 cryptocurrencies.

Trading volume increased 24.60% to $132 million. SHIB is up 2% this month, recovering from a nearly 40% drop. Weekly updates continue to highlight growth potential, with plenty of room for further upside.

Over the past year, SHIB has risen 78%, a modest gain for a cryptocurrency but impressive for a traditional stock, and given SHIB’s history of rapid price increases, it seems highly likely that another significant upswing will occur.

Earlier this year, SHIB’s trading volume skyrocketed to $16 billion in a 24-hour period, signaling the potential for dramatic growth. If SHIB returns to its previous highs, big gains could follow, especially with the ongoing token burn.

Sentiment for Shiba Inu remains strong and is expected to rise to $0.0015. Some traders are predicting a long-term price target of $0.01, which is ambitious but not entirely impossible.

These projections are ambitious but within reach, especially if burn rates increase and market trends remain favorable.

Pepe Unchained (PEPU): An Altcoin to Watch

If you’re a fan of Shiba Inu and meme coins, Pepe Unchained is worth a look. This new project has its own blockchain, which allows for faster performance compared to previous networks. If you like earning passive income with meme coins, Pepe Unchained might be a good fit for you.

Pepe Unchained features speeds 100 times faster than Ethereum and a unique decentralized exchange, making it ideal for traders who need quick access to the popular meme coin and need to execute transactions quickly.

Pepe Unchained plans to charge much lower transaction fees than Ethereum, which is important for traders who rely on small profit margins.

$PEPU holders can benefit from high staking rewards thanks to the “double staking” feature that rewards early backers. Currently, early buyers can enjoy a high APY of around 154%, but this rate will decrease as more investors join the staking pool.

With over 1 billion $PEPU tokens already staked before the official launch, it’s clear that early investors have confidence in this meme coin. This high APY encourages investors to hold onto $PEPU for longer as rewards are distributed over a 2-year period. The project’s mascot, Pepe Frog, helps connect with investors.

The project has already raised over $13 million in its $PEPU presale, making it one of the best crypto investments of 2024. Early buyers can purchase $PEPU for $0.0097284, but the price will rise within the next two days. $PEPU can be purchased with ETH, USDT, BNB, or credit/debit card.

If the market turns bullish, Pepe Unchained may soon experience its first bull market upswing. Investors can keep up to date with Pepe Unchained updates by following the X account or joining the Telegram group.

To participate in the $PEPU token presale, visit pepeunchained.com.

Related

• Memebet presale could surpass $200,000 as Shiba Inu’s burn rate surges price growth
• Cardano Volumes Fall as Pepe Unchained Hits $13M in Presale – Is $PEPU a Bullish Alternative to Watch?

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