Shiba Inu (SHIB) price trades at a four-day high as rising network activity drives a surge in the SHIB burn rate. The community burn portal shows that 1 trillion SHIB tokens have been burned in total, while the burn rate continues to soar with a 3,000% spike at press time. As network activity and usage spikes, can SHIB burn 1 trillion tokens every day, and if so, what will be the impact on the token price?
Shiba Inu Price Today as Bulls Target $0.000014
Shiba Inu price is trading at $0.0000132 with a 4% intraday gain as Bitcoin’s rally past $99,000 fueled positive sentiment around altcoins, especially meme coins.
The four-hour SHIB chart shows that this top meme coin is now targeting the resistance level at $0.0000134, and if it manages a breakout from this level, it may surge to a two-week high of $0.0000147.
SHIB/USDT: 4-Hour Chart
Among the factors driving the Shiba Inu price gains is the surging burn rate. Data from Shibburn shows that over 67 million of the meme token’s supply has been burned in one week, with the 24-hour burn rate soaring by 3000%.
SHIB Price Impact if Burn Rate Hits 1 Trillion Daily
The current SHIB burn rate is notably low, considering there are only 1 trillion token burns on the community burn portal, which is barely a dent in Shiba Inu’s supply of 589 trillion coins.
If the burn rate were to skyrocket to 1 trillion every day, it means there will be 365 trillion SHIB token burns within a year, which is around 62% of the circulating supply. Per Grok3,
“Burning 1 trillion SHIB tokens daily could theoretically increase the price by 167% in one year to $0.000037, assuming constant market cap, with potential for higher gains if demand surges.”
A drastic decline in the supply will also eliminate market cap constraints, allowing the Shiba Inu price to hit psychological levels of $0.01 or $0.001.
Can SHIB Realistically Burn 1 Trillion Tokens Every Day?
For Shiba Inu to get to a 1 trillion SHIB burn rate, the ecosystem would have to experience exponential growth. Moreover, activity on the Shibarium layer two network will have to compete with top layer twos like Polygon or Arbitrum.
Currently, Shibarium’s $3 million TVL milestone is at play after a steady surge over the last month. This growth coincides with a twofold spike in SHIB transaction volumes, as Shibscan data reveals.
Shibarium TVL
If Shibarium’s TVL can balloon past $1 billion and emerge among the top layer twos as adoption grows, the meme coin can achieve 1 trillion token burns.
Shiba Inu Technical Analysis as Cup and Handle Pattern Emerges
Shiba Inu price has formed a cup and handle pattern on the daily chart, and it currently eyes a breakout past the handle’s resistance. If it manages to break out, it will signal a bullish Shiba Inu price prediction and support an uptrend towards $0.000017.
The DMI supports the likelihood of the uptrend continuing with the +DI line (blue) crossing above the -DI line (red), signalling that a bullish trend is now in play. However, traders should remain cautious of the ADX line that signals the current trend is weak and Shiba Inu may drop to test resistance at the handle’s breakout point.
SHIB/USDT: 4-Hour Chart
To sum up, SHIB price appears to be on a bullish path, after the recent 4% gains and the surging network activity and burn rate. If the momentum holds and Shibarium’s usage grows to achieve 1 trillion SHIB burns daily, the meme coin eyes massive gains to new highs.
The post Shiba Inu Price Impact if SHIB Burns 1 Trillion Tokens Every Day appeared first on CoinGape.
