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Bigger Entertainment, led by Stephen Cooper, is organizing Shiba Inu burning parties to cut the supply and keep the price from falling.
The Bigger Entertainment executive also tweeted that community members should take part in the supply cuts:
Before we announce the next party, I want to be clear… This is not for the pump, but to shorten the offer. The Shib price may not change at all.
Our goal as a community is to reduce the supply by 10% together, and we hope the development team will follow suit by focusing on the goal of 20% or more.
SHIB supporters believe that a reduction in the supply of the meme coin could lead to an increase in the price of Shiba Inu.
Cryptocurrency analysts at Vision Pulse Traders assessed the price trend of Shiba Inu and noted that the coin has not peaked yet. They see the next major resistance at $0.0000305. If she breaks it, SHIB could hit $0.0000345.
Analysts at FXStreet believe that Shiba Inu is poised for the February 6, 2022 ascent with a possible upside to $0.000054.
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