- Shiba Inu’s community believes that 111 trillion SHIB could be burned within the next twelve months.
- A massive SHIB burn could be the bullish signal that Shiba Inu holders have anticipated.
- Shiba Inu price is ready to recoup its losses, analysts identify rising formation in SHIB chart.
Shiba Inu community predicted a 111 trillion SHIB burn, fueling a bullish sentiment among SHIB holders. Shiba Inu’s burn events have triggered a rally in the meme coin over the past two months.
Also read: Three reasons why Shiba Inu has potential to beat the slump
Shiba Inu community predicts 111 trillion SHIB burn
Shiba Inu burn remains a hot topic in the SHIB holder community. On Shiba Inu’s community-focused discord channel, SHIB BPP shared a hypothesis of 111 trillion Shiba Inu burn within the next 12 months.
The community’s Discord channel moderator SHIBQueenie believes that 111 trillion Shiba Inu could be burned within the next 12 months. This estimate does not include community burns, burn projects such as the Shiba Inu burn portal and other events that are announced periodically.
Shiba Inu community has several events lined up. The launch of Shibarium and Shiba Inu’s metaverse push are the key events that could fuel a bullish sentiment among holders. SHIBQueenie believes that the renaming of Shiba Inu’s metaverse has the potential to act as a driving force for bullish sentiment among SHIB holders.
Since the launch of the burn portal, 410.37 trillion Shiba Inu tokens have been burned so far. The burnt tokens have been sent to dead wallets and permanently removed from circulation. This reduces the number of SHIB tokens in circulation and is expected to drive the value of SHIB higher.
Shiba Inu burn scenarios
Shiba Inu games director takes Shiba Eternity to Gamescom
Shiba Inu’s collectible card game, Shiba Eternity, will go to Gamescom. The world’s largest gaming event and trade show would drive the adoption of Shiba Inu and make it popular among holders.
William Volk, director of Shiba Inu games is set to attend Gamescom and represent the Shiba Inu project. Game publishers and companies introduce new software and hardware to industry and private visitors every year at the gaming event.
Off to Gamescom to show off #ShibaEternity (it looks so good!). Guess what’s in the bottom bag. (The hint is on the top bag). pic.twitter.com/iBDnHt2VtW
— william_volk (@william_volk) August 22, 2022
Shiba Inu price is ready to recoup its losses
Analysts evaluated the Shiba Inu price trend and predicted that the meme coin is ready to begin its recovery. Shiba Inu yielded 14% losses over the past week, and SHIB holders are awaiting a recovery in the Dogecoin-killer meme coin.
Shiba Knight, a pseudonymous crypto analyst and trader identified a rising formation in Shiba Inu’s price chart and predicted a recovery in the meme coin.
SHIB-USDT price chart
Analysts at FXStreet are on the same page and believe the meme coin is ready to kick off its recovery. Shiba Inu bulls are likely to push SHIB higher. For price targets and key levels to watch, check the video below.
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