The Shiba Inu cryptocurrency (SHIB) has recorded an impressive 5,762% increase in its burn rate in just 24 hours, permanently eliminating over 26.24 million tokens from the circulating supply. Despite a slight drop of 2.10% in its price ($0.00001236) and a decrease of 24.29% in transaction volume ($88.86 million), this massive increase in burns shows that the SHIB community remains very active and engaged. $SHIB
📉 What's happening with the SHIB market?
Current price: $0.00001236 (-2.10%)
Daily volume: $88.86 million (-24.29%)
SHIB burned in 24 hours: 26,240,000 tokens
Weekly burn: -19.5%
Although the weekly burn volume has decreased, this sudden increase may be a strategic response from investors or whales preparing for a possible bullish move. Many analysts see this pattern as a consolidation phase before a breakout.
🔍 What does this burn mean for the future of SHIB?
Token burning is a fundamental mechanism of the Shiba Inu ecosystem. By reducing the supply, the goal is to increase scarcity and the potential value of the token. This behavior reflects:
Strong community involvement.
Possible expectation of positive news from the SHIB team or updates on Shibarium.
Renewed interest from traders looking to position themselves at low prices.
📊 Analyst Opinions
Although the price has slightly retraced, the massive increase in burning could be an early signal of bullish momentum. However, the drop in volume and weekly burns invites caution. It could be either a pause before a rise or a more prolonged cooling phase.
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