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Cryptonews Price Predictions Shiba Inu Price Prediction as Shibarium Upgrades
Trigger 4,240% Burn Rate Surge – A New Era for SHIB?


SHIBA INU PRICE PREDICTION AS SHIBARIUM UPGRADES TRIGGER 4,240% BURN RATE SURGE
– A NEW ERA FOR SHIB?

Simon Chandler
Last updated: January 26, 2024 06:36 EST | 3 min read



The Shiba Inu price has remained static in the past 24 hours, holding to
$0.000008872 as the cryptocurrency market as a whole gains by a very slight 0.3%
today.

This movement means that SHIB has fallen by 4% in a week and by 16% in the last
30 days, with the popular meme token also suffering a 23% drop in the past year.

These are all bad figures, yet SHIB’s fundamentals warrant a substantial
recovery, with a new Shibarium update resulting in a marked increase in the
token’s automatic burn rate.

As such, the token could witness a marked rebound soon, especially if they wider
market becomes more bullish.


SHIBA INU PRICE PREDICTION AS SHIBARIUM UPGRADES TRIGGER 4,240% BURN RATE SURGE
– A NEW ERA FOR SHIB?


SHIB’s chart doesn’t really provide much hope as far as imminent recoveries are
concerned, with its indicators still looking pretty subdued.

Its 30-day moving average (yellow) continues to descend towards its 200-day
average (blue), with its current price dropping below both.

Source: TradingView

This is a very bearish sign, indicating further losses, as does SHIB’s relative
strength index (purple), which has been languishing at 40 for several days now.



In other words, the coin is really struggling to regain momentum, and its
trading volume – which now stands at $84 million – certainly isn’t helping
matters.

It was as high as $350 million earlier in the month, so its 75% decline since
the first week of January underlines just how out of favor it is with traders at
the moment.

As such, it will be interesting to see whether its support level (green) can
prevent a fall below $0.00000880.

If it can’t, the coin may continue to witness further falls in the near term.

Yet Shiba Inu’s longer term picture arguably looks much better, with the coin’s
burn rate increasing substantially yesterday as a result of a Shibarium update.

> If you don’t know yet #Shibarmy, as per #TheShib , #Shibarium automatic #burn
> mechanism is currently being tested on the #Puppynet and soon will be brought
> to the Mainnet making the #burn process more transparent
> 👇https://t.co/FyvL2z0gYf pic.twitter.com/dkWCivPkc2
> 
> — Jolt (@Jolt_yourday) January 24, 2024





As the tweet above indicates, a new burn mechanism is being tested on Shibarium,
with this mechanism resulting in a whopping 4,240% increase in the total amount
of SHIB burned yesterday (compared to the previous day).

This bodes well for the token’s future, because with Shibarium burning millions
of SHIB everyday, the reduction in supply could help squeeze the Shiba Inu price
up significantly.

Combined with an increasingly bullish market (made more bullish by the next
Bitcoin halving), it could reach $0.000020 by the summer.


ALTERNATIVE MEME COINS FOR BIG RALLIES


Because SHIB has underwhelmed in recent months, impatient traders may prefer to
investigate newer meme coins, especially those which look set to enjoy initial
growth spurts.

One new token likely to do this is Sponge (SPONGE), an ERC-20 cryptocurrency
that originally listed in April 2023 and rallied by as much as 150%.

What’s exciting about Sponge right now is that it’s in the process of launching
the second version of its token, SPONGE V2.

SPONGE V2 will come with a new staking model (and higher yields), while it will
also be the native token for a new play-to-earn Sponge game.

> Huge milestone alert, #SPONGERS! 🔥
> 
> There are now over 6 billion $SPONGE tokens staked with a value of
> $3,958,206.14! 🤯
> 
> Our holders are enjoying an impressive current APY of +250%. 🚀
> 
> Join us and absorb the damp!! 🧽🧽💦💦#SpongeV2 #Crypto #Web3 #Alts #100x
> pic.twitter.com/llxFF0hfby
> 
> — $SPONGE (@spongeoneth) January 26, 2024





Set to launch in the next few weeks, the upcoming SpongeBob-themed P2E game will
enable players to earn Sponge V2 tokens according to where they rank in the
game.

Yet holders of the existing version of SPINGE can lay claim to V2 tokens now by
visiting the official Sponge website and staking their older coin, while
non-holders can simply buy it outright.

This will give them a 1:1 entitlement to Sponge V2 tokens once the latter
launches, with those who continue to stake the new version set to earn a higher
yield than they did before.

Indeed, the current APY for SPONGE V2 is now in the region of 250%, with stakers
earning this higher rate if they keep their tokens locked up for longer.

> 10 exchanges not enough? 😉#SpongeV2 will be listed on BIGGER AND BETTER
> exchanges! 🔥
> 
> You’re not ready for what’s coming next 👀#SpongeV2 #MemeCoin #Presale
> pic.twitter.com/LdXRYu65Z8
> 
> — $SPONGE (@spongeoneth) January 23, 2024





This more aggressive staking model will result in a greater percentage of SPONGE
V2’s supply exiting circulation, which in turn could boost its price.

For this reason, SPONGE V2 could have an even bigger opening than its
predecessor, especially if the market becomes more bullish by the time it
launches.

Buy Sponge V2 Here

Follow Us on Google News



Disclaimer: Crypto is a high-risk asset class. This article is provided for
informational purposes and does not constitute investment advice. You could lose
all of your capital.




--------------------------------------------------------------------------------

Meme Coins Price Prediction SHIB


BUY/SELL AT THE BEST RATES

USDEURGBPBTCETH



View all exchanges
BitcoinBTC
-0.57%
Buy for

51710.70/Sell for

51751.60
EthereumETH
+0.04%
Buy for

2792.26/Sell for

2794.64
BitcoinCashBCH
-0.77%
Buy for

267.63/Sell for

267.91
EOSEOS
+0.74%
Buy for

0.7679/Sell for

0.7702
LitecoinLTC
-0.16%
Buy for

70.10/Sell for

70.19
RippleXRP
-1.36%
Buy for

0.55155/Sell for

0.55251
DashDASH
+3.95%
Buy for

30.0896/Sell for

30.2194
CardanoADA
+4.4%
Buy for

0.61616/Sell for

0.61803
StellarXLM
-0.34%
Buy for

0.11458/Sell for

0.11471
NEMXEM
-0.79%
Buy for

0.0375/Sell for

0.03758
See more rates





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