Shiba Inu (SHIB) has seen a remarkable surge in its burn rate, rising by an astounding 2229.01% in the past 24 hours. This massive spike has led to the elimination of over 21 million SHIB tokens, creating a sense of scarcity and driving positive sentiment among investors ahead of the highly anticipated TREAT token launch.

SHIB Burn Rate Hits Record High

In the last 24 hours, the Shiba Inu community has burned 21,065,740 SHIB tokens, reducing the circulating supply and increasing the potential for price appreciation. The current circulating supply stands at approximately 589.25 trillion SHIB. The objective behind this burn is to drive up the value of SHIB by creating a tighter supply, which in turn can lead to increased demand and price growth.

The significant rise in burn activity has sparked a wave of optimism in the SHIB community, with many speculating that the price of SHIB could experience further growth in the coming days, especially with the launch of the TREAT token scheduled for later today.

SHIB Price Reacts Positively

As a result of the increased burn rate and growing optimism, SHIB’s price has risen by 5.71% in the past 24 hours, currently trading at $0.00002142. The token also saw a notable 9.60% increase in 24-hour trading volume, signaling strong market activity.

Market analysts are predicting a potential rise in SHIB’s value, with some speculating it could reach $0.001 by the end of January. This growth would be fueled by factors such as the adoption of the Shibarium network, continued strategic burns, and the overall bullish sentiment in the crypto market.

All Eyes on the TREAT Token Launch

The upcoming launch of the TREAT token is another major event generating excitement within the Shiba Inu ecosystem. The token is set to be listed on popular exchanges like KuCoin and Gate.io, with withdrawals set to begin on January 15. Early interest in TREAT has been high, and it is expected to attract significant attention from the crypto community.

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