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

Shiba Inu is making headlines again as its burn rate soars by 8,000%. Is this SHIB bullish news signaling a bull market?

This big milestone is sparking excitement within the crypto community, as many believe might lead to a broader market rally.

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

Shiba Inu bullish news and project developments

Shiba Inu’s official X account recently highlighted an 8,000% increase in burn rates, removing a significant number of SHIB tokens from circulation.

This burn mechanism, designed to boost scarcity, plays a crucial role in driving the project’s growth strategy. Along with other ecosystem advancements, it reinforces the project’s long-term vision for decentralized finance (DeFi).

The SHIB ecosystem continues to grow with new developments like K9 Finance’s liquidity staking, which offers users fresh opportunities to engage and earn within the Shiba Inu community.

Additionally, SHIB Eternity, a legal framework for Web3, is under development, positioning Shiba Inu as a key player in the DeFi landscape. These updates show the project’s active evolution to meet crypto market demands while maintaining its relevance.

Shiba Inu has also hit two major milestones. The Shibarium blockchain has minted over 140,000 NFTs, and the launch date for SHIB staking has been announced. These milestones are set to drive further growth within the SHIB ecosystem, strengthening its standing in the DeFi space.

Shiba Inu price prediction

The overall crypto market shows signs of heating up, with Bitcoin approaching the $60,000 mark, which could trigger a full bull market. As the stock market and gold rise, other assets tied to Bitcoin, like meme coins, may also see gains.

Despite the Fear and Greed Index indicating fear levels between 33 and 36, many anticipate a market pump soon. The market is up by 2.3%, but today’s focus is on meme coins, particularly Shiba Inu (SHIB).

SHIB recently experienced a sharp spike in its burn rate. On September 11, Shibburn X reported an 8,193% increase, eliminating over 3.1 million tokens across eight transactions. One of these burns sent one million SHIB to dead wallets.

Following this, SHIB’s price reached $0.00001367 before dipping slightly to $0.00001359. Currently, SHIB trades at $0.00001328, down 3.65% in the past 24 hours, according to CoinMarketCap. With a market cap of $7.82 billion, SHIB ranks among the top 13 cryptocurrencies.

Trading volume has surged by 24.60%, reaching $132 million. SHIB has climbed 2% this month and recovered from a near 40% drop. Weekly updates continue to highlight its growth potential, with plenty of room for further gains.

Over the past year, SHIB has risen 78%, a modest increase for a cryptocurrency but impressive for traditional stocks. Given SHIB’s history of rapid price gains, another significant pump seems highly probable.

Earlier this year, its trading volume spiked to $16 billion within 24 hours, showcasing its potential for dramatic growth. If SHIB returns to previous all-time highs, substantial returns could follow, especially with ongoing token burns.

Market sentiment around Shiba Inu remains strong, with predictions of a rise to $0.0015. Some traders even foresee a long-term price target of $0.01, which, while ambitious, is not entirely out of reach.

These predictions, though ambitious, remain within reach, especially if burn rates increase and market trends continue positively.

Pepe Unchained (PEPU): An altcoin to watch

For fans of Shiba Inu and meme coins, Pepe Unchained is worth a look. This new project has its own blockchain, offering faster performance compared to its previous network. If you enjoy earning passive income with meme coins, Pepe Unchained might be a good match.

What sets Pepe Unchained apart is its speed, which is 100x faster than Ethereum, and its own decentralized exchange. This makes it ideal for traders who need quick access to popular meme coins and fast trade execution.

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

Holders of $PEPU can benefit from high staking rewards, thanks to a “double staking” feature that rewards early supporters. Currently, early buyers can enjoy a high APY of around 154%, but this rate will drop 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 will encourage investors to hold onto $PEPU longer, as rewards will be distributed over 2 years. The project’s mascot, Pepe Frog, helps create a connection with investors.

Lucky number 13! 🎉 We’ve hit $13M! pic.twitter.com/8M3vBNzdie

— Pepe Unchained (@pepe_unchained) September 12, 2024

The project has already raised over $13 million from the $PEPU presale, making it one of the best crypto investments for 2024. Early buyers can purchase $PEPU for $0.0097284, but the price will increase in less than 2 days. $PEPU can be bought with ETH, USDT, BNB, or a credit/debit card.

As the market strengthens, Pepe Unchained might soon experience its first bull market rally. Investors can stay updated on Pepe Unchained by following its X account or joining its Telegram group.

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

Related

• Shiba Inu Increasing Burn Rate Could Trigger Price Gains as Memebet Presale Surpasses $200K
• Cardano’s Trading Volume Falls as Pepe Unchained Hits $13 Million in Presale – Could $PEPU Be the Bullish Alternative to Watch?

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