Shiba Inu Burn Rate Surges, Fueling Speculation of Price Surge

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Shiba Inu, the second-largest joke cryptocurrency after Dogecoin, has recently seen a significant increase in its burn rate, rising by nearly 500,000% on November 27. Burning tokens helps decrease the total supply of a crypto token, which has excited long-term bulls of Shiba Inu. This spike in the destruction rate has led to speculation among followers about the possibility of the SHIB price reaching $0.10 in the future. However, despite the hype, the SHIB price has not reacted to the news.The reason for this is simple math. With a circulating supply of nearly 590 SHIB tokens, a price of $0.10 would result in a Shiba Inu market cap of $59 trillion, which is far beyond the current crypto market cap of $1.4 trillion. Therefore, reaching a price of $0.10 remains a distant possibility.Crypto analyst Kaleo, on the other hand, has expressed optimism about the future of SHIB. He expects the price to turn bullish soon, predicting a considerable rally for SHIB. Kaleo’s analysis suggests that SHIB could surge past its current value of $0.00000861, helping investors gain 74% profits.In addition to Kaleo’s analysis, the approval of a spot Bitcoin ETF could also contribute to a higher SHIB price. The Shiba Inu development team has also shared five major crypto trends for the next bull run, including Real World Assets (RWA) tokenization, SocialFi, GameFi, and AI-crypto integration.Overall, while the increased burn rate of Shiba Inu has generated excitement among its followers, the possibility of reaching a price of $0.10 seems unlikely due to basic math. However, analysts like Kaleo remain optimistic about the future of SHIB, and the development team has identified key sectors that could contribute to its growth.

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