Shiba Inu’s burn mechanism saw its rate surge by nearly 500% in 24 hours, with approximately 2.7 million SHIB tokens destroyed, valued at around $13. The SHIB price has collapsed by nearly 30% since January 1, and the current burn volume remains insufficient to meaningfully impact the supply of 410.8 trillion tokens already sent to a null address since 2022. An analyst forecasts a target of $0.0000060 in case of a breakout above descending resistance, while exchange reserves remain low at 87 trillion coins, limiting immediate selling pressure.
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