One of the most popular meme coins in the cryptocurrency world. Shiba Inu The price started to move in the last 24 hours. The skyrocketing number of cremations carried out with the support of the community is one of the biggest foundations behind this increase.
As we reported as Koinfinans.com, SHIB price recorded a correction a while ago and dropped to $0.000024. However, support from investors pushed the price back closer to the $0.00003 level and into an optimistic area.
According to Shibburn data, 135.45 million ShibaInu tokens were traded in the last 24 hours. burned and the burn rate increased to 1300%. While the community continues to reduce the supply with continuous burning, investors’ expectations are also increasing.
In the past 24 hours, there has been a total of 135,451,536 $SHIB tokens burned and 12 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/Dls1G9gKzA
NEWS CONTINUES BELOW— Shibburn (@shibburn) April 9, 2024
Although the upward movement in the last 24 hours has attracted the attention of some investors, some investors believe that things are still not stable, especially drawing attention to the active price trend in the last week. However, according to on-chain measurements, meme coin has the foundations ready for a strong uptrend.
While the market value of Shiba Inu increased by 2.3% to $16.81 billion, the transaction volume increased by an average of 13% to $668.27 million.
Coinglass data highlights a 4.93% increase in SHIB’s open interest (OI), while derivatives volume increased by 10.26%. This underscores a strong market uptrend for the Shiba Inu, indicating increased market activity and investor interest.
