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Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Nov 28, 2024 13:36 UTC
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SHIB in Top 5: Will Shiba Inu Price Hit New ATH?
Shytoshi Kusama shared an AI-generated image reflecting the challenges of developing a meme coin into a top-tier cryptocurrency.
The recent surge in SHIB burn rate and the bullish market trend have led to optimism among the SHIB community.
Shytoshi's dedication, coupled with the increasing burn rate and bullish market sentiment, has fueled hopes.
The Shiba Inu lead Shytoshi Kusama in a latest tweet has shared an AI-generated image depicting ‘how it feels trying to give utility to a meme coin and take it from top 15 to top 5, in less than 5 years, and without a huge budget’. He clarified that he was talking about SHIB.
The image had a painting on an office wall depicting a chaotic, religious, or apocalyptic scene, and there is a man in the office sitting at his desk, with a mess surrounding him.
SHIB In The Top 5?
Following Kusama’s tweet, an X user speculated that he was hinting at SHIB’s imminent climb to the top 5. However, Kusama clarified that this wasn’t a prediction but an ambitious target. He highlighted the ongoing effort to elevate SHIB, describing it as a shared goal rather than a guaranteed outcome.
Kusama also shared details about his demanding work routine, revealing that he often works 20-hour days for weeks at a time. His tasks include managing social media and responding to the SHIB community’s feedback and questions.
Burn Rate Skyrockets by Over 24,000%
Meanwhile, Shiba Inu’s burn rate has surged to extraordinary levels. Earlier today, it spiked by 5,500%, but it has now soared by over 24,000% in the past 24 hours. In total, 270,751,087 SHIB tokens were burned, with the largest single burn removing 209,312,491 tokens from circulation.
As of now, SHIB is trading at $0.00002521, up by more than 1% in the last 24 hours.
SHIB Set for a Bigger Bull Run Ahead?
The broader crypto market has experienced a significant rally following the U.S. election, with Bitcoin (BTC) and Solana (SOL) reaching new all-time highs.
However, Shiba Inu has yet to achieve a new ATH during this bull run. The last time SHIB hit an ATH was in October 2021, when it reached $0.00008616. This surge followed a massive burn in May 2021, when Ethereum co-founder Vitalik Buterin transferred over 410 trillion SHIB to a dead wallet.
Looking Ahead: Is 2025 the Year of the “Super Cycle”?
Shiba Inu’s marketing lead, Lucie, remains optimistic about the future. She believes 2025 could be a “super cycle” year, similar to the explosive rally seen in 2021. Lucie pointed out that the current market setup resembles the conditions in 2020, just before the last major bull run. With growing demand and top exchanges listing SHIB, she sees potential for another significant rally.
The SHIB team and community are clearly focused on long-term growth, using strategic burns and ambitious goals to pave the way for future success.
FAQs
Shiba Inu’s burn rate surged by over 24,000% in the last 24 hours, with more than 270 million SHIB tokens burned, signaling a significant increase in token scarcity.
While SHIB has not yet reached a new ATH during the current bull run, marketing lead Lucie suggests that 2025 could be the year for a “super cycle” similar to the 2021 rally.
By 2025, our price prediction forecasts that the Shiba coin price could be worth $0.00006392. With a potential surge, the price may go as high as $0.000321 by the end of 2030.
Yes 
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