$SHIB

🔥🔥 Shiba Inu Climbs to 9-Month High, Bolstered by Long-Term Holder Support: 😱

👀 Shiba Inu (SHIB) is gaining momentum due to strong support from long-term holders (LTHs), which helps stabilize its price.

👀 SHIB’s price surge to $0.00003169 faces resistance at $0.00003515, with key support at $0.00002976; failure to hold could trigger a decline.Social Trading. Copy trading. Smart Portfolios.

👀 However, if SHIB loses its current support level at $0.00002976, a decline to the next support zone of $0.00002267 becomes more likely. Such a drop would negate the bullish sentiment.

📢 TOKEN DISTRIBUTION AND THE IMPACT OF BURNING 600M GMT TOKENS: 🚀🚀

The tokenomics of Green Metaverse Token (GMT), the native token of STEPN, are designed to fuel its ecosystem by balancing utility and scarcity. GMT has a total supply of 6 billion tokens, with allocations distributed across various segments. Key portions are allocated to ecosystem rewards, private and public sales, the team, advisors, and reserves, ensuring the project's growth and longevity.

Burning 600 million GMT tokens represents a significant step towards creating long-term value for holders. Token burns permanently reduce the circulating supply, thereby increasing scarcity, which often drives higher demand. This deflationary mechanism aligns with the interests of the community and investors, as reduced supply can potentially lead to price appreciation, especially if demand remains constant or grows.

Moreover, burning such a large volume of tokens—10% of the total supply—can positively impact the token's perceived value in the market. It signals the team’s commitment to sustainability and increasing the ecosystem's health.

This burn not only enhances scarcity but also incentivizes user engagement by increasing the perceived value of rewards within the STEPN ecosystem. The burning of 600M GMT is a strategic move to reinforce the token's utility, support its market position.

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