Shiba Inu Burn Rate Skyrockets 1250% with ShibTorch Portal Launch, SHIB Price Rally Ahead?

As a seasoned researcher with a knack for deciphering market trends and a soft spot for quirky digital currencies like Shiba Inu (SHIB), I find myself intrigued by this latest development. The 1250% surge in SHIB burn rate within the last 24 hours is nothing short of extraordinary, and it’s hard not to get excited about the potential implications.


Recently, the rate at which Shiba Inu tokens are being destroyed (or “burned”) skyrocketed an astounding 1250% within the last day, with a total of 28,648,321 SHIB being burned. Financial experts speculate that this dramatic increase in the burn rate could spark a significant upward trend for Shiba Inu’s price, which has already climbed by approximately 9% over the past week.

The Sharpe ratio, a metric that helps to assess the risk-adjusted returns relative to the asset volatility provides insights into the risk-reward profile of an investment. A positive Sharpe Ratio suggests a favorable risk-reward balance, while a negative one indicates higher risk.

As a seasoned investor with over two decades of experience, I have learned that every move in the market requires careful analysis and consideration. Earlier this week, on August 19, I closely observed the Sharpe Ratio for Shiba Inu plummeting to -5.43. However, I have seen similar situations before, where a seemingly bleak outlook can change dramatically over time. Since then, the ratio has improved significantly to -3.5, indicating a positive shift that could signal progress toward profitability.

Additionally, the introduction of the Shiba Inu token burn platform, ShibTorch, may boost the likelihood of a SHIB price surge. This new platform, launched by the team, channels a percentage of transaction fees on Shibarium towards burning Shiba Inu coins. The team emphasized that the primary goal of ShibTorch is to decrease the total supply of SHIB and control inflation, which are crucial for the coin’s growth and stability.

In simple terms, the Burn Portal is eagerly awaited within the Shiba Inu community because it could potentially boost the number of token burns. But for Shibarium to burn more SHIB tokens, there needs to be a substantial increase in its usage or adoption, as this would lead to increased transaction fees. Consequently, these higher fees could then trigger a larger amount of tokens being burned over time.

Shiba Inu (SHIB) Price Action

As a researcher studying the Shiba Inu (SHIB) market, my analysis of the 4-hour SHIB/USDT chart indicates a bullish ascending channel pattern is developing. This pattern features an upper trendline that gradually increases in resistance and a lower trendline offering support. If this trend persists, I anticipate a potential surge in SHIB prices in the near future.

Shiba Inu Burn Rate Skyrockets 1250% with ShibTorch Portal Launch, SHIB Price Rally Ahead?

courtesy: Trading View

For Shiba Inu (SHIB), the Moving Average Convergence Divergence (MACD) is showing robust strength with a positive reading, indicating an increasing bullish trend. Furthermore, the 12-day Exponential Moving Average (EMA) has surpassed the 25-day EMA, which indicates that buyers are currently in control and the market appears to be moving bullishly.

A portion of the community has proposed a bold goal for the annihilation of approximately 100 trillion SHIB coins every year. Right now, there are around 583 trillion SHIB tokens in circulation. If this rate is maintained, it would result in the elimination of about 83 trillion tokens over the next five years.

Read More

Sorry. No data so far.

2024-08-23 17:10