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Leading memecoin project Shiba Inu escalated its Shibburn process on Monday when an unidentified whale sent over 1 billion SHIB tokens to an unspendable wallet. The mammoth-sized transaction marked the highest single Shibburn ever and raised the exercise rate by 116,757%.

The Shiba Inu (SHIB) community has significantly ramped up its token-burning efforts, permanently removing over 1.3 billion SHIB from the circulating supply in just seven days. This intensified deflationary pressure, which includes a dramatic 4,000% spike in the daily burn rate, comes even as the token’s market price has continued to decline.

Crypto analyst Javon Marks has reaffirmed his bullish price target of $0.000081 for Shiba Inu (SHIB), a move that would represent a staggering 609% gain from current prices.

Speculation continues to swirl around Shiba Inu (SHIB), with many in the crypto community eyeing a potential, albeit ambitious, rise to the $0.0007 price mark. A move of this magnitude could dramatically multiply even a modest investment, transforming a small stake into a significant return.

Several altcoins are capturing investor attention as they approach critical technical levels, setting the stage for a potential breakout or breakdown.

Bullish signals emerged on the community-focused Ethereum-based memecoin, Shiba Inu, with the cryptocurrency’s exchange reserve surging to $929 million in 24 hours. This development boosted optimism among SHIB investors and coincided with a significant rally in the memecoin’s price.