Shiba Inu drops 10% on Coinbase as a record 10 trillion token burn sparks speculation of a potential 5× rally amid heightened volatility
Shiba Inu has been experiencing a substantial price decline in response to significant whale activity on Coinbase. However, discussions regarding reducing the cryptocurrency’s supply to 10 trillion tokens indicate the possibility of a substantial rally.
The Shiba Inu coin’s recent movements and fire mechanisms have the potential to cause significant changes in the price prediction of SHIB, making it one of the most discussed cryptocurrencies.
Shiba Inu Price Drops 10% on Coinbase; 10T Supply Cut May Instigate 5X Rally Massive Shiba Inu Withdrawal Shocks Coinbase
In a single transaction, an astonishing 56.3 billion SHIB tokens, valued at approximately $686,652, were transferred from Coinbase Prime to an unidentified wallet.
The transfer of the dog-themed meme coin is one of the most significant movements in recent cryptocurrency activity, and it was conducted through Coinbase’s professional-grade custody service.
The receiving wallet appears to be a new address with no prior activity, which implies that it is a strategic position rather than a result of routine trading. This Shiba Inu coin movement suggests institutional involvement rather than retail speculation, and it also demonstrates how major actors are currently positioning themselves.
Shiba Inu Rally Potentially Influenced by Supply Reduction
The total supply of SHIB tokens is 589.25 trillion, a decrease from its initial one quadrillion supply.
Community members advocate for additional fires to decrease the cryptocurrency supply to 10 trillion tokens, which could substantially affect SHIB price-prediction models.
At the current market cap of $7.19 billion and the time of writing, the price of Shiba Inu would rise to $0.000719 if the supply were reduced to 10 trillion tokens.
This represents a potential 5,793% increase from current levels. In the cryptocurrency sector, this type of supply reduction would be unprecedented.
Additionally, the most recent SHIB news indicates that over 410.75 trillion tokens have been irrevocably removed by various burn campaigns. The community is now advocating for even more aggressive burns, as they think this is the key to unleashing the token’s true potential.
Shiba Inu Market Outlook
The Shiba Inu coin is experiencing bullish potential due to aggressive burn campaigns and institutional Coinbase activity.
The most recent analysis of the SHIB price prediction indicates that the primary catalyst for substantial price appreciation in this cryptocurrency market is the reduction in supply. Also, prominent platforms such as Telegaon predict that SHIB could reach $0.0007 by 2030.
The token currently trades at $0.00001220, demonstrating a 1.7% increase in the past 24 hours despite the broader market challenges. According to the most recent SHIB news, the token has experienced some recovery.
