December SHIB burn numbers continue to rise, a sign that a rally may be coming for the token. Optimism is low in cryptos when reading headlines, but with the latest consumer price index sent both the digital currency and stock markets upward Tuesday.
SHIB Burn Increasing As Price Rises
Shiba Inu token nearly rose to a new weekly high. On December 13th the token price rose to US$0.00000922, which is less than $0.00000013 lower than the peak price from the last 7 days.
The price increase is due to positive headlines on US inflation, plans for Shibarium, and a growth in SHIB burning.
From December 9th to the 11th, the token burn grew by over 2000%. And on Tuesday, 44,842,866 tokens were torched. This total for a 24 hour period was more than the previous 5 days.
Though some believe Shiba Inu coin burning has little effect on the tokens price, it can actually contribute.
Christmas Gift for ShibArmy
Price of the token is expected to increase by more than 100% for a Christmas Rally. Blogs are expecting either Shibarium or an important update on the layer-2 technology will be published, giving token holders a pleasant surprise.
A gift from Ryoshi perhaps?
If this does not happen, the current slowing on inflation could still be enough to boost the coin’s price to lose 1 zero. A move of the coin’s value to US$0.00001 would still be great holiday gains, to go along with the pounds amassed from delicious food and beverages.