Shiba Inu price poised to rise in 2022 as 9 companies join forces to commit to SHIB burn
Nine businesses deposit a fixed percentage of profit, sales or some money into the official SHIB burn wallet Shiba Inu (SHIB) an enterprise that promises to burn SHIB Burn Pledge met for
The price of the Shiba Inu is consolidating, again as before the bullish rally in October 2021, and is trading at $0.000033 at the time of writing. The Shiba Inu initially refused to enter a sideways trend after its impressive rally to an all-time high of $0.000889. For example, Shiba Inu even rallied up to 30 percent in late November 2022 after it was announced that it would be listed on the Kraken exchange.
The Shiba Inu is currently trading as a triangle. Looking ahead, one of two things is expected to happen: a break above current levels could allow the meme coin to surge 18% to its recent high of $0.0000399.
More upside moves could try to hit the $0.000055 and $0.000065 targets. Alternatively, a retest of the demand zone could drop as low as $0.000032 to $0.000028 support.
Businesses Attend SHIB Burn Pledge
It’s only been three days into 2022, and the Shiba Inu token burning seems to continue at a steady rate, as it did last year. Steven Cooper, CEO of Bigger Entertainment, a crypto record label, shared the news of burning 2.75 million Shiba Inu tokens on January 3. The CEO announced that a total of 889,483,100 SHIB tokens have been burned since he announced his burning campaign on October 20.
Another 2.75 Million #shib gone forever. Bringing our total burned to 889,483,100 since launching our campaign on Oct. 20th. We’re excited for what 2022 will bring!
Receipts, a burn counter, & playlists can be found at: https://t.co/qAZCxRSOss
Etherscan: https://t.co/wLRv7Ktebe
— Steven Cooper (@iamstevencooper) January 3, 2022
In addition, nine businesses participated in the SHIB Burn Pledge, which promised to send a fixed percentage of profit to the official SHIB incinerator as part of a major burning campaign.
The company list of SHIB Burn Pledge, which plans to make SHIB burning an ongoing activity, includes the following businesses:
Shiba Coffee Company: A coffee shipping company that supports the Shiba ecosystem. The team states that 100% of its profits will go to buying SHIB and 10% to burning it.
Bigger Entertainment: A crypto record label with various SHIB burning activities and features, where artists agree to donate 20% of royalties to burn SHIB.
The Vibe Maquillage: A cosmetics brand that burns 15% of all sales made in SHIB.
Marklien: A clothing store that sells knitted goods. Twenty-five percent of all purchases where SHIB is used as a payment method will be burned.
Precious Paws: A store that sells dog accessories and toys. 20% of the business’ profits will be used to burn the SHIB.
Cryptoon Network: Twenty-five percent of its sales will be used to burn SHIB.
Save The F**king Trees: 75% of the proceeds from items and artworks will go to me.
THE SHIBETTES | 1/1 NFTs: One percent of the proceeds from NFT sales will be burned.
Shiba Search: As an internet browser, the platform will burn one percent of its ad revenue.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.