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Explosive Return of Coin Burning

The figures recently published by Shibburn.com platform are simply staggering. In just 24 hours, nearly 1.25 million SHIB tokens have been removed from circulation, representing a phenomenal increase of 1,682% compared to the previous day. Over a week, more than 21 million have been burned.

This surge in burning activity reflects strengthened bullish momentum within the Shibarium ecosystem. Demand for SHIB and BONE tokens, used as currency on the blockchain, is intensifying. Data from DefiLlama shows a 3.8% increase in Total Value Locked (TVL) on Shibarium over the past three weeks, reaching $1.6 million.

Shibarium Total Value locked (TVL).
Source: DefiLlama.

Can SHIB Challenge DOGE?

This excitement around Shiba Inu comes as the crypto market appears ready for a new bullish phase. With anticipated interest rate cuts in the United States, investors are repositioning themselves in risk assets like SHIBA.

Technically, SHIBA is testing the upper resistance of a symmetrical triangle formed since last May. A breakthrough could generate a potential gain of 95%, reaching $0.0000175 or even $0.000025. To compete with Dogecoin, the rally would need to exceed 365%, hitting $0.000060, an ambitious target given the already solid adoption of DOGE.

Despite Dogecoin’s head start, Shiba Inu has assets to continue its progression. The constant growth of its ecosystem gives SHIB strong medium-term appreciation potential, making it crucial for savvy investors to monitor the upcoming developments of the project.

SHIB // USD 1-day chart, symmetrical triangle pattern. Source: TradingView.

How to Buy SHIB on Pionex?

Buy SHIB at $0.00001250 on Pionex before what could be a radiant recovery. Don’t miss this opportunity, here’s a guide to buying Shiba Inu (SHIB) on Pionex:

  1. Registration: Create an account on Pionex and complete KYC verification to secure your account.
  2. Fund Deposit: Add funds to your account via fiat (bank transfer or card) or cryptocurrencies like USDT or BTC.
  3. Access Spot Market: Search for the SHIB/USDT pair in Pionex’s spot market.
  4. Place Order: Choose between market or limit order and confirm your SHIB purchase.
Buy SHIB on Pionex and receive up to 1000 USDT in bonuses!

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