Shiba Inu's 9.25T SHIB Burn Ignites Talk of $0.001 Breakout

• Potential Breakout for Shiba Inu Sparked by Team Member Ragnar's Deleted Post
• Historical Context of SHIB Token Burn
• Shiba Inu Weekly Price Prediction: A Burn on the Horizon?
• Rumours or Reality: Ragnar's Tweet on Shiba Inu Burn

Potential Breakout for Shiba Inu Sparked by Team Member Ragnar's Deleted Post

Ragnar, a member of the Shiba Inu$0.000010 -2.05% team, recently sparked speculations of a possible breakout for SHIB. These speculations originated from a now-deleted post suggesting a Shiba Inu burn of a record 9.25 trillion SHIB this month. The reasons for the deletion of the post remain uncertain, however, a segment of the SHIB community believes it was a measure taken to prevent over-boosting expectations.

Historical Context of SHIB Token Burn

For reference, the highest number of SHIB tokens previously burned in a single month only reached billions. The sole instance of a trillion Shiba Inu tokens burned occurred in a single year, an act attributed to Vitalik Buterin, the founder of Ethereum$2,315 -2.42%.

Shiba Inu Weekly Price Prediction: A Burn on the Horizon?

There is speculation that a burn may occur this month, either as a typo or oversight from Ragnar. Although it's predicted that Shibarium will significantly contribute to a major Shiba Inu burn phase this month, reaching trillions is highly unlikely. As a layer 2 network, Shibarium accounted for nearly 34 billion burned SHIB of last year's total 76 billion+ tokens burned. Up until now, 64 million SHIB have been burned in January.

Rumours or Reality: Ragnar's Tweet on Shiba Inu Burn

Hence, it is plausible that Ragnar's tweet hinting at a massive Shiba Inu burn is exaggerated. The anticipated burn for the dog-themed cryptocurrency this month will probably only reach hundreds of billions. A bullish breakout for Shiba Inu could occur alongside a Shiba Inu burn phase, but a burn reaching trillions seems improbable.

Edited by Jonathan Stoker