- The Shiba Inu community estimates that 111 trillion SHIBs could be burned in the next twelve months.
- A massive SHIB burn could be the bullish sign that Shiba Inu holders were anticipating.
- Shiba Inu price is poised to recoup losses, analysts identify bullish formation on the SHIB chart.
The Shiba Inu community predicted a 111 trillion SHIB burn, fueling bullish sentiment among SHIB holders. The events of Shiba Inu’s burn have sparked a demonstration in the meme room over the past two months.
Also read: Three reasons why Shiba Inu has the potential to overcome the crisis
The Shiba Inu community predicts 111 trillion SHIB burns
The Shiba Inu burn remains a hot topic in the SHIB custodial community. On the Shiba Inu community-focused Discord channel, SHIB BPP shared a hypothesis of 111 trillion Shiba Inu burns in the next 12 months.
The moderator of the community’s Discord channel, SHIBQueenie, estimates that 111 trillion Shiba Inus could be burned in the next 12 months. This estimate does not include community burns, burning projects like Shiba Inu Burn Portal, and other events that are announced periodically.
The Shiba Inu community has several events planned. Shibarium’s launch and Shiba Inu’s metaverse thrust are key events that could fuel bullish sentiment among holders. SHIBQueenie believes the renaming of the Shiba Inu metaverse has the potential to act as a driving force for bullish sentiment among SHIB holders.
Since the launch of the burning portal, 410.37 trillion Shiba Inu tokens have been burned so far. The burnt tokens were sent to dead wallets and permanently withdrawn from circulation. This reduces the number of SHIB tokens in circulation and should increase the value of SHIB.
Shiba Inu burn scenarios
Shiba Inu games director brings Shiba Eternity to Gamescom
Shiba Inu’s trading card game, Shiba Eternity, will go to Gamescom. The largest gaming event and trade show in the world would lead to the adoption of Shiba Inu and make it popular with owners.
Shiba Inu games director William Volk is expected to attend Gamescom and represent the Shiba Inu project. Game publishers and companies present new software and hardware to industry and private visitors at the game event every year.
The Shiba Inu price is ready to recoup its losses
Analysts have assessed Shiba Inu’s price trend and predicted that the meme coin is ready to begin its recovery. Shiba Inu has posted losses of 14% in the past week, and SHIB holders are waiting for a recovery from the Dogecoin-killer meme coin.
Shiba Knight, a pseudonymous cryptocurrency analyst and trader, identified a bullish formation in the Shiba Inu price chart and predicted a rally for the coin itself.
SHIB-USDT price chart
Netcost-Security analysts are on the same page and believe the coin meme is ready to begin its recovery. Shiba Inu traders are likely to push SHIB higher. For price targets and key levels to watch, check out the video below.