Shiba Inu Price Forecast Predicts 51% Increase Amid Token Burning and Shibarium Advancements

According to CryptoPotato, a recent forecast suggests a 51% rise in Shiba Inu price in the near future. Factors such as SHIB's aggressive token burning, the advancement of Shibarium, and other developments can positively impact the asset's value. Despite a 4.5% fall on a weekly scale, Shiba Inu remains an intriguing topic and is often a subject of bullish predictions. One such forecast came from Twitter user $SHIB KNIGHT, who envisions a 51% increase in the following seven days. A spike of this magnitude requires several essential factors to take place. ChatGPT estimated that regulatory developments, the overall bullish condition of the industry, and adoption are the main ones. Technical advancements related to the meme coin might also play a role. Shiba Inu's layer-2 scaling solution, Shibarium, has been showing significant progress since its launch last August. Total transactions on the network surpassed the 360 million mark, and wallet addresses are inching towards 1.4 million. Another element that might trigger a SHIB price increase is the successful execution of Shiba Inu's burning mechanism. The program reduces the circulating supply of assets, making them scarcer and potentially more valuable over time. Earlier this week, the burn rate exploded by over 8,500%, resulting in around 86 million tokens being removed from circulation. More than 41% of SHIB's maximum supply has already been destroyed. The operation includes manual and automated burns, with a certain percentage of the transaction fee being transferred to a null address. Shiba Inu's team aims to simplify the process by introducing a transformative token burning mechanism to automate the entire system.