Shiba Inu (SHIB) has managed to re-attract investors’ attention with innovations in its ecosystem and a significant increase in its burn rate. These efforts to reduce the token’s circulating supply reinforce the idea that it could have a positive impact on the price in the future. According to Shibburn data, Shiba Inu’s burn rate has recently increased by 97%, with a total of 6.26 million SHIBs being removed from circulation. This transaction is considered a step that could support price movements by positively affecting the supply and demand balance. While experts state that the reduction in supply could positively contribute to the SHIB price in the long term, they state that fluctuations in the crypto market could put pressure on the price in the short term.
The Shiba Inu ecosystem has attracted attention with the introduction of a project called “SHIB: The Metaverse.” One of the prominent figures of Shiba Inu, Kaal Dhairya, stated that this project is an important step in the integration of SHIB into the multi-blockchain system. In addition, SHIB’s lead developer Shytoshi Kusama announced that a new token, TREAT, will be released soon. This announcement created great excitement within the community.
The price range in which the cryptocurrency is traded fluctuates in line with the general market trends. SHIB has recently traded between $0.00002261 and $0.00002402. Experts predict that the decrease in supply and the launch of new projects could contribute to the price increase in the long term.
In addition, the interest of large investors in SHIB is also remarkable. According to Whale Alert data, 2.88 trillion SHIB was transferred via the Turkish cryptocurrency exchange BTCTurk. The total value of this transfer was recorded as approximately $65.7 million.
Shiba Inu’s ecosystem developments and community-driven projects point to a promising future in the crypto space, with analysts predicting that these innovations could give SHIB a strong position by increasing its price and community support.