Shiba Inu Burned 284 Million Tokens: The Market is in a Optimistic Expectation

The Shiba Inu community attracted attention by burning approximately 284 million tokens irreversibly in the last 24 hours. This large token burn positively contributes to the supply and demand balance and shapes future expectations. With this development, the market has started to be evaluated with cautious optimism regarding future price movements.

According to official data providers, the burning rate of Shiba Inu tokens has reached around 38,000% in the last 24 hours. In particular, the destruction of 263.7 million tokens from a specific wallet address has been recorded as a noteworthy transaction. Such large transactions are evaluated within the burning mechanism that affects the supply of tokens and could positively impact the price.

Tokens are removed from circulation by being sent irrevocably to a "void" address, and the pressure on supply is expected to have a positive effect on price in the coming periods.

Market Status and Price Movements

After the burn transactions, the price of Shiba Inu (SHIB) is trading around $0.000013. Market analysts note that large burns in the short term do not create an immediate impact on the price, but the decrease in supply will support the price in the long term. The current trading volume and the price entering consolidation have caused investors to adopt a cautious approach. Currently, the support level is around $0.000012.

Future Expectations and Investor Opinions

According to some market comments, Shiba Inu is currently in a potential buying zone. Investors predict that there may be a price increase in the near future based on technical analyses and on-chain data. Strong technical indicators and on-chain analyses support the expectations of a price increase.

This evaluation reinforces the view that the long-term restriction of supply will strengthen investor confidence. The community's large-scale token burn movement has led to an increase in positive expectations in the market, while closely monitoring the technical indicators and support levels in light of current data is of great importance.


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