• Shiba Inu’s burn rate has skyrocketed by 14,000%, driven by Shibarium’s usage, potentially fueling a price surge.
• The upcoming TREAT token is poised to play a pivotal role in SHIB’s ecosystem and metaverse expansion.

According to a recent CNF update, the Shiba Inu (SHIB) burn rate has surged over 14,000%, contributing to a slight price increase, with SHIB currently trading at $0.0000133, despite market uncertainty. Analysts note that SHIB is breaking upwards from a falling wedge pattern, typically a bullish signal.

If this breakout is confirmed, SHIB could test $0.0000161 and potentially rally by 156%, targeting $0.0000342, particularly if increased buying activity follows.

Shiba Inu Burn Rate Soars

A major factor driving SHIB’s potential rally is its burn rate, which has skyrocketed over 14,000% in the past 24 hours. This increase is largely due to the growing use of the Shibarium network, which is reducing SHIB’s overall supply, potentially boosting its value.

In a tweet from Shiba Inu’s Marketing Lead Lucie, the upcoming TREAT token is set to play a crucial role in Shiba Inu’s ecosystem evolution.

Strategic Plans for SHIB Ecosystem Growth

As highlighted in another CNF report, Shiba Inu’s marketing lead, Lucie, emphasized that the developers cannot change the total SHIB supply, which remains at 589 trillion, despite calls from the community.

Lucie also outlined a growth plan for the SHIB ecosystem, focusing on governance and utility improvements through Shibarium, with the TREAT token at the center of this transformation. This marks a positive beginning of an exciting new chapter for the Shiba Inu market.

According to CoinMarketCap data, SHIB is currently trading at $0.0000135, having increased by 1.63% in the past day and 1.82% in the past week. See SHIB Price chart below.