Impact of Shiba Inu Burn Rate and FCF Support on Price in July 2022

Shiba Inu Price Surges 230% as 357 Million SHIB Burned

In the past 24 hours, the Shiba Inu burn rate has hit overdrive. In just 16 transactions, the SHIB community burned 219,660,376 SHIB tokens. As a result of the SHIB burn, the price of Shiba Inu has spiked by 230%. However, other positive initiatives might also be facilitating the rise of the meme coin.

At the time of writing, the number of burned coins was 357 million. The great thing for investors is that the burn rate is still rising, which means more price appreciation is still possible.

It is worth remembering that a total of 4,553,606,683 SHIB were burned in June alone. The total transactions that took place for the burning activity were 400. SHIB Army is ready to drive its favorite crypto back to its perch. It is an initiative taken to help SHIB emerge from the large-scale crypto crash that started after Terra’s wipeout.

Shiba Inu Price Forecast 2022-2030

Overwhelming SHIB Community Support Driving The Price Up

The support from the SHIB community is widespread. Even after the departure of its founder Ryoshi, the efforts by SHIBites are commendable. Another reason for Shiba Inu’s price rise is BONE support. A payment gateway named FCFPay has announced that it will list BONE on its website.

If that wasn’t enough reason for jubilation, there are plans to support LEASH. Shiba Inu ecosystem has three tokens in its payment system: SHIB, BONE, and LEASH. SHIB grabs the limelight, but the other two are not as popular.

But with FCFPay’s initiatives, things are likely to change. It is worth noting that FCFPay has listed SHIB on its platform in April 2022.

A Case of Shiba Inu Burn and Shibarium Move Surging Price

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