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Shiba Inu Price Set for 2022 Move as 9 Businesses Join SHIB Burn Pledge

Mon, 01/03/2022 - 14:17
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Tomiwabold Olajide
9 companies team up in SHIB burn pledge, Shiba Inu price prepares for 2022 move
Shiba Inu Price Set for 2022 Move as 9 Businesses Join SHIB Burn Pledge
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Nine businesses have teamed up for the SHIB Burn Pledge, an initiative that promises to burn a fixed percentage of profits, sales or a dollar amount to the official SHIB burn wallet. Shiba Inu's price is consolidating in a manner that preceded the October 2021 bullish run, trading at $0.000034 at press time.

Shiba Inu declined to enter sideways movement after its impressive rally to all-time highs of $0.0000889. Shiba Inu had a 30% run in late November 2022 after the Kraken exchange announced its listing.

Shiba Inu is presently trading in a triangular pattern. Going forward, one of two things might happen: a breakout past current levels could trigger an 18% run-up to recent highs at $0.0000399. Further upside moves may attempt targets at $0.000055 and $0.000065. Alternatively, a retest of the demand zone might seek support between $0.000032 to $0.000028.

Nine businesses join SHIB Burn Pledge

It is barely three days into 2022, and the Shiba Inu token burn seems to progress at a steady rate. Steven Cooper, CEO of Bigger Entertainment, a crypto record label, shared news of the 2.75 million Shiba Inu token burn on Jan. 3. The CEO announced that a total of 889,483,100 SHIB tokens has been burned since it announced its burn campaign on Oct. 20.

In a major burn campaign, nine businesses have joined the SHIB Burn Pledge that promises to burn a fixed percentage of profits to the official SHIB burn wallet.

The list of companies includes...

Shiba Coffee Company: A coffee-shipping company that supports the Shiba ecosystem. It states that 100% of its profits will go toward buying SHIB, 10% of which will go toward burning SHIB.

Bigger Entertainment: A crypto record label with a variable SHIB burn, in which artists agree to donate 20% of royalties to burn SHIB.

The Vibe Maquillage: A cosmetics line that burns 15% of all sales made in SHIB.

Marklien: A knitted apparel store. Twenty-five percent will be burned from all purchases using SHIB as a payment method.

Precious Paws: Deals in dog accessories and toys, and 20% of its profits will be used in burning SHIB.

Cryptoon Network: Twenty-five percent of its sales will be used to burn SHIB.

Save The F**king Trees: Seventy-five percent of earnings from gear and art will go to burns.

THE SHIBETTES | 1/1 NFTs: Burning a percentage of the proceeds from NFT sales.

Shiba Search: This will burn a percentage of ad revenue.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.