Shiba Inu Burn Rate Skyrockets 5,975% as Price Recovers, SHIB Looks Ready to Replicate 2021 Move Along with This Ethereum Token

September 27, 2024 - Around 6 mins mins to read

The meme currency Shiba Inu (SHIB) has recently attracted media attention as its burn rate surged by 5,975%, prompting a move by the SHIB community to increase the deflationary supply of the token. With the burn rate rising, its investors and analysts are beginning to ask whether this is an opportune time to return to Shiba Inu, bullish on the asset. Why? History could easily repeat itself, as it did in 2021, with early adopters gingerly flooding back into the asset, only to cash in on substantial gains. Nonetheless, SHIB is not the only token embraced by the crypto community. Rexas Finance (RXS), an Ethereum-based token in the presale stage, is becoming the one everyone is watching, with some expecting higher returns, similar to what happened with SHIB.

Shiba Inu Burn Rate Skyrockets 5,975% as Price Recovers, SHIB Looks Ready to Replicate 2021 Move Along with This Ethereum Token

Shiba Inu’s Burn Rate Surge: What Does It Signify?

It is understood that the burn rate is the percentage of SHIB coins permanently removed from circulation. Burning is intended to create scarcity for the token and, in due course, enhance its value. In the past 24 hours, 1.7 million SHIBs were burned, indicating a burn rate increase of 5,975% above the previous day. While most of the SHIB supply cannot be blamed due to the relatively small absolute figures—hundreds of trillions—in the current stage, the emphasized speed of burns is crucial for wider adoption and appreciation of SHIB. Although this mechanism is aimed at curbing inflation in the cryptocurrency, it also facilitates the Shibarium layer network, which commenced in 2023 and includes automated burns as part of transaction fees. This new policy ensures that up to 70% of the total base transaction fees earned through its network will be converted to SHIB and incinerated. The objective is to gradually decrease the circulating supply of SHIB, leading to greater scarcity and a higher value for the token.

SHIB’s Price Action and Probable Comeback Furtherance

Currently, SHIB is trading at $0.0000147, up 3.24% in the last 24 hours, though the price is still in the lower-low zone. The most recent burn has led to some forecasting trends regarding the growth of SHIB as it was in 2021 and some market subscribers are issuing comparisons with respect to both events. The value of SHIB in 2021 was remarkable as it increased by more than a thousand times advancing from $0.000007 to $0.00008 an all-time high for SHIB. These returns made it possible for SHIB to become the most profitable token of all in 2021. Although it is harder to say if SHIB will reach such highs again, given market conditions after interest rate cuts from the Federal Reserve and recent burn activity, such an upward movement might not take long. Analysts currently place the next resistance at $0.000016, with the more ambitious target at $0.00002.

Shiba Inu Burn Rate Skyrockets 5,975% as Price Recovers, SHIB Looks Ready to Replicate 2021 Move Along with This Ethereum Token 2

Enter Rexas Finance: Be Part of The New Ethereum-Based Token

While SHIB is gaining more attention due to its burn rate and subsequent price growth potential, Rexas Finance (RXS) is becoming a big story in the crypto market. Rexas Finance, however, intends to provide tokenization of real-world assets, distancing itself from being classified as a meme coin like SHIB. In the case of Rexas Finance, it allows for the conversion of physical assets, such as properties, gold, and other commodities, into liquid assets secured on the Ethereum blockchain, enabling the trading of those assets that cannot easily be traded. RXS, currently sitting at $0.05 in its third presale phase, is expected to reach $17 by 2025, according to MarketsandMarkets. This projection is significant because it represents a 49,900% increase over two years, making Rexas Finance one of the most respectable Ethereum token investments in the market today.

The Critical Reason Why Rexas Finance Could Rival SHIB’s 2021 Rally

SHIB’s burn procedures are adequate for managing its excessive supply, yet Rexas Finance offers real-world applications. The ability to make real-world assets tradable is a tremendous advantage, targeting multi-trillion-dollar industries such as gold and real estate. This market activity, combined with its affordable presale price, positions RXS for explosive growth as more investors adopt blockchain solutions with real-life applications, as opposed to mere speculation. Additionally, “whale” investors, those with significant capital, are starting to pay attention to Rexas Finance as well. The presale has already earned more than $1.4 million, impressive for an initial stage. With the next presale phase aiming to increase the price to $0.06, now is likely the ideal time for investors to enter before the token goes viral on centralized exchanges.

Can SHIB and Rexas Finance Coexist in the Same Bull Market?

In particular, SHIB and Rexas Finance operate in different niches within the cryptocurrency market, and there is reason to believe that both could perform well in the next bull market. SHIB’s strength lies in its large community base and deflationary nature, while Rexas Finance focuses on asset tokenization for real-life use cases. As the market recovers from its slump, both tokens present strong cases for significant returns, albeit for different reasons.

Conclusion: A Combined Retail Strategy for Investment

Investors looking to join the next big rally in cryptocurrency will find both Shiba Inu and Rexas Finance appealing. SHIB’s supply reduction policy and community-driven structure suggest it will aim for another significant rally. Meanwhile, Rexas Finance follows a completely different development path, focusing on tokenizing real assets. As of yesterday, with SHIB at $0.0000147, the token remains in a good position, and its global rise is likely driven by the recent burn actions. At the same time, Rexas Finance, with a selling price of $0.05, presents an interesting option for those seeking Ethereum-based projects with practical applications rather than speculative value. Regardless of SHIB’s memetic and deflationary characteristics or Rexas Finance’s pragmatism, both tokens have a good chance of generating solid returns in the coming months and years.