Shiba Inu Coin is about to get hot again?
#亚马逊股东提议比特币投资 With the arrival of the fourth quarter bull market, Shiba Inu Coin has once again become a favorite among investors, especially with the sharp rise in SHIB prices. It is said that on Tuesday, some data showed that SHIB's recall rate soared by 1000%, meaning the supply of this cryptocurrency has decreased. Everyone is pondering that this dog-themed token is likely to soar further, and other indicators also show that the price is about to double.
SHIB's recall rate skyrockets, supply decreases, and everyone is delighted
Data from Shibburn indicates that SHIB's recall rate dropped by 1068% (this refers to the change in recall rate, not the price), which indicates a significant reduction in the token supply. A total of 51.76 million tokens were sent to unusable addresses, completely disappearing from the market.
As a result, based on the supply and demand relationship, everyone is more optimistic about this digital asset.
Additionally, weekly surveys show that 24.4 billion tokens have been withdrawn from circulation.
With so many factors in play, the total supply of Shiba Inu Coin has decreased considerably, now only 589.25 trillion SHIB remains.
Moreover, there is good news that makes investors even happier. SHIB's Layer 2 network, Shibarium, has been active for 16 months and now has registered 2 million wallet addresses. Overall, the combination of the fourth quarter bull market, the rising burn rate of Shibarium, and the frequent activities have filled everyone with confidence in this cryptocurrency.
Is Shiba Inu Coin really going to double?
Although SHIB's recall rate has surged dramatically, the price has still dropped by 15%, currently at $0.00002646. It has reached a low of $0.00002511 and a high of $0.00003141 within 24 hours. However, looking at the weekly chart, this asset has still increased by 16%, indicating it has potential in a favorable market environment.
CoinGape has recently analyzed the price of Shiba Inu Coin, saying that on-chain indicators also show that it is set to rise. Because the concentration of large holders is still at 73%, the price of this token may double again. Although the price fluctuates during the day,
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