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Shiba Inu: SHIB Price to Skyrocket as Shibarium Burn Begins
Shiba Inu is already up 24.2% in the 14-day chart and 8.4% over the previous month. Once the Shibarium burn commences, SHIB circulation will shrink, thus pushing the asset further in the green.
A new burn mechanism has been under development for quite some time. SHIB fans and users are still pursuing a price of $0.01 (one cent) for the asset. However, given the project’s massive supply, $0.01 seems like an unachievable target. Nonetheless, if the new burn mechanism can incinerate most of the SHIB tokens in circulation, it would make the one-cent-dream more approachable.
Developers haven’t given an update on precisely how much of the current Shiba Inu supply will be burned. However, with Shiba Inu being bullish over the past few weeks, the potential to push past the token’s current resistance zone is very possible, and the price can skyrocket to potential new highs to close out 2023.
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