SHIBA INU – Strong burning signal and bullish outlook

Shiba Inu ($SHIB ) continues to show strong vitality as it records the current price increase of $0.00001551, with a market capitalization of approximately $9.14 billion USD. In the past 24 hours, the price has increased by 3.57%, while the total supply is being controlled at around 589,251 billion tokens. This is a positive signal in the context of gradually decreasing burning tokens.

SHIB Token Burning Activity

In the past 24 hours: 7,109,444 SHIB burned (-67.05%)

In the past 7 days: 96,904,873 SHIB burned (-20.12%)

Total tokens burned since inception: over 410 trillion SHIB

Although the burning rate has decreased in the short term, the total number of SHIB burned in the long term remains incredibly impressive. This contributes to reducing circulating supply and sets the stage for long-term price increases.

Growth Potential

Shibarium, Shiba Inu's Layer 2 solution, is building its own ecosystem with dApps, NFTs, and low transaction fees, enhancing practical applicability.

The strong community momentum and positive developer engagement continue to enhance SHIB's influence in the cryptocurrency market.

Assessment

With market capitalization gradually increasing and supply continuously shrinking through the burning mechanism, SHIBA INU still has the potential to break through in the next bullish cycle, especially if Shibarium attracts more practical applications.

Disclaimer: This article is not investment advice. The cryptocurrency market is highly volatile, please do your own research and consider risks before making investment decisions.