The ‘January bull run’ no one can quite figure out, has been amazing for $SHIB tokens. The meme coin that’s waiting for an industry leading 1,000,000 TPS layer-2 network upgrade, has maintained at 4 zeros, losing the 5th in last week’s bullish start. Adding fuel to the fire of the DogeCoin Killer’s run, it appears the record-breaking Shib Burn start now continues too after going cold a few days.
It’s the season of the Dogs in crypto and even twitter knows it.
SHIB Burn Today
The sum of Tuesday’s $SHIB Burn reached a total of 73,010,178 just before 7PM (eastern). With just over 5 hours left in the day, the total is already a 92% increase in the amount of tokens sent to the dead wallets the day prior.
The largest burn of today, January 17th, was 36,423,403 tokens or just under 36.5M. The transaction was sent from the a KuCoin hot wallet (id: 0x0fb17ff69a90b22ad9c084003ceb2d13b9ebf7de) in the early morning of Tuesday, around 3:42 AM (EST). The staggering amount had a fiat value of US$383.90 and cost the sender an additional transaction fee of 16.727299665 Gwei (US$3.23).
With hours left in the day, If 7-million more tokens are burned, SHIB Army’s daily burn goals for 2023 will be met. Twitter & reddit users challenged each other to reach a goal of 100 million $SHIB per day for 2023 as the past year closed out. If 100M gets burned, it will be the first time such a massive sum of Shiba Inu coins has been removed from circulation in over 10 days.
Day’s $SHIB Price & Prediction
The growth in burn numbers also comes after massive gains from the Shiba Inu coin during a January crypto bull run. The current price of the ‘Dogecoin Killer’ sits at US$0.000011. The price is nearly a 16% gain from one week ago, when the token was only US$0.0000097.
The news excites many $SHIB token hodlers because it’s the first time the meme coin has held at a price of 4 Zeros since early November of 2023. If the price reaches US$0.00002 higher, it will also tie the ATH since that month, signaling the possibility of a bigger bull run coming.
Holding at the current price of US$0.000011 is a strong sign for the token as the crypto market has already faced correction once this week.
If the Shibarium Network gets released soon as the crypto brand keeps hinting, it could send prices through the roof. ‘Hype’ and utility of the layer-2 network could send prices to a value over 500% higher before correction.