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Shiba Inu’s path to $1: The truth behind the token burn strategy

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  • Shiba Inu (SHIB) displays strong bullish momentum amid wider market optimism.
  • Massive token supply burn remains essential for SHIB’s $1 dream.
  • Heavy sell pressure looms near critical price levels, challenging further breakout.

Shiba Inu (SHIB) has surged with renewed vigor, building upon the positive sentiment sweeping across the broader cryptocurrency market. After a prolonged phase of consolidation marked by investor caution and subdued price action, SHIB’s decisive breakout has reignited enthusiasm among both retail traders and institutional participants.

SHIB is now trading at $0.00001415. SHIB has registered a 1.37% advance over the last 24-hour duration, along with an impressive 21.42% trading volume increase to stand at $313.13 million, a crucial sign pointing to increased investor interest. For the last week, SHIB’s worth increased by an impressive 16.21%, a sign of its effectiveness in riding out the bettering market conditions.

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Source: Coinmarketcap

The activity rise indicates that there is a general improvement of confidence towards the token, which places Shiba Inu among the top performers of mid-cap cryptocurrencies. Analysts say the momentum is due to a change of sentiment within the crypto sector, where appetite for risk is gradually being regained. However, while the latest performance of SHIB is optimistic, market analysts warn that sustainability will largely depend on breaking major technical resistance levels within the short term.

Why is it hard for Shiba Inu to reach $1?

While sentiment remains optimistic, the possibility of Shiba Inu hitting the highly touted threshold of $1 is a very tall order. Such a jump would require an almost total destruction of SHIB’s enormous supply. With its existing supply of 589.5 trillion tokens, to achieve the valuation of $1 without increasing the market capitalization would mean burning 99.9987% of its supply down to 7.77 billion tokens.

If the monthly burn rate of SHIB continues, around 15.64 billion tokens were burned last March alone, the community would be more than 3,100 years from achieving a corresponding reduction. While technically possible, the impracticability of such a timeline moderates expectation. Supply reduction strategy seeks artificially to create scarcity, yet the existing rate of burns poses a significant obstacle.

Shiba Inu faces key resistance level

While Shiba Inu enjoys a wave of bull sentiment, a major roadblock awaits. On-chain analysis from IntoTheBlock shows more than 22.7 trillion SHIB tokens hovering between $0.00001293 and $0.000015 across more than 49,000 accounts. Together, these so-called “out-of-the-money” holders are a potential sell wall of significant weight, with numerous owners presumably wanting to break even after they bought up higher.

The densest area of these tokens lies at approximately $0.000014, precariously close to SHIB’s existing trading zone. To continue its upward direction, SHIB needs to break this resistance using adequate purchasing pressure. Otherwise, the market may witness another halt or retracement, which it also experienced at its previous rally attempts.

In the sessions to come, how well SHIB can absorb this supply excess will decide if the breakout will transform into a durable rally or will be just another temporary spurt.

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Shiba Inu’s path to $1: The truth behind the token burn strategy 3

MANTRA CEO Burns $82M in OM Tokens to Rebuild Trust After $5B Crash

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  • CEO Mullin to burn 150 million OM tokens worth $82M to restore trust.
  • MANTRA token burn to reduce OM supply by 8.5%.
  • Token burn aims to stabilize the OM price and increase staking APR.

MANTRA CEO announced plans to burn 300 million OM tokens to stabilize market price after the recent massive price crash. OM token prices experienced over 90% decline on April 13 which eliminated more than $5 billion in market capitalization.

CEO John Patrick Mullin intends to burn 150 million of his personal OM tokens to prove his dedication to the project and reestablish trust with investors.

The token burn which is set to be completed on April 29, will reduce the total token supply from 1.82 billion OM tokens to 1.67 billion OM tokens . The decision comes after a massive token price decline due to speculations of insider trading and the suspicious $40 million deposit linked to the MANTRA team.The events caused widespread panic and mass liquidations which raised doubts about the project’s future.

MANTRA Token Burn To Stabilize Price and Restore Trust

Mullin stressed that the MANTRA team did not make any sales activities during the crash. The CEO clarified that the crash was caused by “reckless liquidations” from market fluctuations rather than internal manipulation.

The token burn is intended to boost staking and reduce the staking ratio from 31.47% to 25.30%. However, time will tell how effective the token burn initiative is to restore market trust.

The OM token experienced a brief increase in price after the token burn announcement. However, the price has decreased by 2.7% in the last 24 hours because investors are uncertain about future market conditions.

Price Action

The MANTRA team is in talks with various partners to increase the token burn to 300 million OM tokens.

The token burn could substantially decrease OM token’s circulating supply which could stabilize its price. However, the market sentiment remains uncertain despite the burn initiative. The OM token must break the $0.59 resistance level to surge to $0.71.

MANTRA faces financial difficulties because investors are uncertain about the future of the project. A breakout above the crucial resistance levels could indicate potential growth but additional market turbulence could lead to further declines.

The market continues to monitor whether the token burn will undo the effects of the market crash and recover investor trust in the MANTRA network.

Jupiter Unleashes $3B Token Burn to Skyrocket JUP’s Market Value

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  • Jupiter announces $3B token burn and 50% fee allocation for buybacks.
  • Platform acquires Moonshot to expand into the meme coin sector.
  • JUP token price climbs after major airdrop and strategic decisions.

Jupiter DEX is taking significant steps to strengthen its position in the crypto world. The exchange has announced a $3 billion token burn, a major acquisition, and a revenue-sharing buyback program, signaling major growth for JUP token holders.

Jupiter DEX Unveils $3B Token Burn, Acquisitions and Airdrops

Jupiter DEX has announced a series of updates, including a $3 billion token burn, a buyback program, and a strategic acquisition of Moonshot. The platform aims to increase the value of its JUP token and strengthen its position in the Solana ecosystem. These developments come after the decentralized exchange reported strong 2024 revenue growth and a successful token airdrop event.

The $3 billion token burn will reduce the total supply of JUP tokens. In addition, Jupiter will allocate 50% of its platform fees to buy back JUP tokens from the market. This plan directly links the platform’s performance to token value, creating a strong incentive for long-term growth and user engagement.

Jupiter also acquired a majority stake in Moonshot, a platform specializing in meme coin creation on the Solana blockchain. This acquisition enhances the platform’s presence in the meme coin market and strengthens its position within the broader crypto ecosystem. The strategic move is expected to open new revenue streams for the decentralized exchange.

Jupiter also completed a major token airdrop, called “Jupuary,” which distributed 700 million JUP tokens to over two million users. This airdrop, one of the largest in recent crypto history, targeted various traders, stakers, and community members engaged in governance activities.

JUP Price Action

These announcements led to an immediate price increase for JUP tokens, which rose to $1.27. The increase reflects positive market sentiment and reaction of investors to Jupiter’s commitment to token value and ecosystem growth. Market participants are showing optimism, as reflected in JUP’s active trading and increased interest in the platform’s services.

The platform reported a revenue of $102 million for 2024, highlighting its significant role in the Solana blockchain ecosystem. Jupiter Perps, the platform’s perpetual futures trading service, captured 84% of the Solana perpetual exchange market share. The revenue growth was driven by high trading volumes, an increase in the number of tokens listed, and a broader adoption of Jupiter’s services.

In December 2024, Jupiter experienced a strong revenue period attributed to increased trading activity. New token launches and the continued popularity of Jupiter Perps played a major role in boosting the platform’s financial performance. These factors have strengthened its position as one of the top decentralized exchanges on Solana.

The token is maintaining steady volume, with daily trading activity reaching $1.2 billion. This strong performance indicates sustained market interest following the recent announcements and ongoing engagement from the platform’s user base.

Onyxcoin ($XCN) Skyrockets 20x: Why $XCN is Scaling New Heights?

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  • Onyxcoin ($XCN) Surges 20x in Months, Nears All-Time High
  • $XCN Sets Sights on Mainstream Adoption with Strategic Moves
  • Strategic partnerships and community support drive $XCN’s momentum.

Onyxcoin ($XCN) has caught the attention of crypto enthusiasts with a stunning 20x increase in price. The project’s focus on enterprise blockchain solutions and strong community involvement are key drivers of its rapid growth. Onyx is aiming higher than ever before.

Onyxcoin ($XCN) rises 20x from $0.002 to $0.04, nearing ATH.

Onyxcoin ($XCN) has experienced rapid growth, rising from $0.002 in November to $0.04. This 20x increase has drawn attention, as the coin approaches its all-time high of $0.1841. Investors are now closely watching the project for further developments and market momentum.

$XCN has a clear technological advantage, providing enterprise-grade solutions built on a layer-2 scaling blockchain. This strengthens its position in the competitive crypto market. The ecosystem aims to solve real-world issues, especially in the areas of decentralized finance (DeFi) and NFTs.

Community engagement has played a significant role in Onyxcoin’s success. The community has been vocal about token burns and node incentives, which are considered as key growth drivers to $XCN success. The team’s rapid innovation has also fueled enthusiasm, with the potential for major updates like OIP-51 and strategic partnerships.

In addition to community-driven growth, Onyxcoin’s strategic moves are attracting attention from industry leaders. The project announced a collaboration with key players like HTX Global and notable figures such as Justin Sun. These partnerships are expected to enhance Onyxcoin’s credibility and accelerate its mainstream adoption.

The crypto market sentiment around $XCN has been overwhelmingly positive. Recent technical indicators and trading volume suggest that $XCN is positioned for continued growth. $XCN saw a 300% surge in recent weeks and analysts believed the coin is poised to surpass its previous all-time high.

Onyxcoin’s continued success is attributed to its innovative approach to blockchain technology. The project focuses on scalable solutions for enterprises, which have attracted increased demand in the crypto space. Onyxcoin’s focus on real-world applications ensures its future growth in the developing crypto space.

Investors are closely monitoring $XCN as the coin is rapidly approaching new milestones. $XCN has emerged as one of the most promising projects in the space because of its growing market cap. Its growth trajectory suggests potential for continued success, making it an attractive option for both traders and long-term investors.

Onyxcoin is positioned to continue expanding its market share because of its solid innovations, growing community, and strategic partnerships that give it a competitive edge. For investors, $XCN presents a potential opportunity for significant returns.

Shiba Inu Burns Blaze Through 28 Million Tokens

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The Shiba Inu community continues to demonstrate its unwavering commitment to reducing the circulating supply of SHIB tokens. In the past 24 hours, a total of 28,129,380 $SHIB tokens have been burned, bringing the total burned to an impressive 211,858,675,644,797 SHIB. This burn activity was achieved through five separate transactions, each sending a significant amount of SHIB tokens to an inaccessible dead wallet.

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Source: Shib Burn

The burning of SHIB tokens is a crucial aspect of the project’s roadmap, as it aims to increase the scarcity of the token and potentially drive up its price. By sending SHIB tokens to a dead wallet, they are effectively removed from circulation, making them unavailable for trading or use. This reduces the overall supply of SHIB tokens, which can lead to increased demand and potentially higher prices.

Shiba Inu Burn Initiatives

The Shiba Inu community has been actively involved in burning SHIB tokens since the project’s inception. Various initiatives, such as the ShibBurn website and the ShibBurn portal, have been created to facilitate the burning process and encourage participation from the community. Additionally, several exchanges have integrated SHIB burning mechanisms into their platforms, making it even easier for users to contribute to the reduction of the circulating supply.

The recent burn activity is a testament to the dedication and enthusiasm of the Shiba Inu community. By working together, SHIB holders are actively shaping the future of the project and contributing to its long-term success. The continued burning of SHIB tokens is a positive step towards achieving the project’s goals and creating a more sustainable and valuable token ecosystem.

As the Shiba Inu project continues to evolve, the burn mechanism will undoubtedly play a pivotal role in maintaining the token’s scarcity and driving its potential for growth. The community’s unwavering support for burning SHIB tokens is a clear indication of their belief in the project’s future and their commitment to its success.

Shiba Inu: Trillions Of SHIB To Be Burned

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An interesting upgrade for the Shiba Inu community has been released by the official Shibarium Network. The Shibarium team reiterated that the Layer 2 solution is only for the SHIB community and that BONE will be its only token before explicitly announcing that each Shibarium transaction will burn SHIB.

The hypothesis of burning billions of SHIB is expected to be heavily influenced by the future Layer 2 Shibarium. SHIBQueenie, a moderator on the SHIB Discord, predicts that dApps on Shibarium could cause the local ecosystem to burn trillions more SHIB after burning 111 trillion in months.

As the Shibarium beta launch draws near, the Shibarium team also stated that it was now concentrating on delivery. For the debut of the Shibarium beta, anticipation is growing. A Shibarium section has been added to the SHIB wiki on the official website, according to SHIB BPP, a Twitter account dedicated to the Shiba Inu community.

Given these anticipations, BONE, the Shibarium blockchain’s gas, is still one of the top trending topics on Twitter as of the time of writing. Shiba Inu’s governance token, BONE, has been added to the whitelist of DEX aggregator OpenOcean. BONE is currently up 4.19% at $1.09 and up 28% over the past seven days.

Shiba Inu Pulls Up Its Socks

Initiatives to prevent Shiba Inu burns have been among the ecosystem’s most significant ones. At first, there was a desire to lessen the number of Shiba Inus roaming around. This was done in the hope that it would eventually create scarcity and increase in value.

In terms of burning, 2022 has been a mixed year for SHIB. There were days when the burn rates spiked above 4000% and days when they sharply declined.

Shiba Inu was one of the coins that CoinMarketCap’s users added the most to their watch lists in the year 2022. The SHIB token is currently being accumulated by whales or significant holders. According to WhaleStats, “BlueWhale0159,” an ETH whale, just purchased 186,939,748,000 SHIB for a total cost of $1,596,465.

The greatest 100 and 2,000 ETH whales monitored by WhaleStats rate SHIB as one of the assets they have purchased the most of. Additionally, it rated as the most used smart contract for the top 2,000 ETH whales and the most traded asset for the top 1,000 ETH whales.

The Shiba Inu burn rate did, however, reach a higher level for the first three days of 2023.