Shiba Inu community has burned 96.43 million tokens in the last 24 hours, an impressive 28.145% increase in burn rate. This massive burn supports the goal of increasing the value of the token by significantly reducing the circulating supply.
Over the past week, there has been a 301% increase in the burning rate of Shiba Inu. In this regard, a total of 172.99 million tokens have been burned. The total supply has now decreased to approximately 589.27 trillion SHIB. This has had a positive impact on the market by improving the supply-demand balance.
The listing of Shiba Inu as a futures asset on the Kraken exchange has brought more investor interest to the token. This listing makes SHIB more accessible, while increasing trust and investment interest in the token.
Price Movements and Market Expectations
Meme coinThe price of has fallen by 0.7% in the last 24 hours to $0.00001393. However, a 0.44% increase in open interest in futures shows that investors are optimistic about future price movements. Technical analysis shows that SHIB maintains its long-term growth potential. In addition, it is predicted that it can achieve a positive trend with community support.
As a result, the meme coin’s large burn rate and new listing on Kraken indicate positive changes in the token’s market dynamics. Despite short-term price fluctuations, a promising long-term development process is observed. Along with these, investors continue to follow developments in the SHIB ecosystem.
