Shiba Inu (SHIB) has regained investor interest with a major increase in its token burn rate and innovations in its ecosystem. These moves to reduce SHIB’s circulating supply have raised expectations that it will have a positive impact on future price movements.
According to data released by Shibburn, Shiba Inu’s burn rate increased by approximately 97%, and 6.26 million SHIB tokens were permanently removed from circulation and sent to the null wallet. This situation has a positive effect on the supply-demand balance, indicating a potential increase in price movements. Market analysts state that the decrease in supply may contribute to the SHIB price in the long term, but it is thought that fluctuations in the cryptocurrency market may put pressure on the price in the short term. Analysts point out that in addition to the burn rate, community projects will also have a significant impact on the market.
The Shiba Inu ecosystem launched the “SHIB: The Metaverse” project during the Christmas period. Community member Kaal Dhairya announced the details about the project on the social media platform X and said, “We have taken a big step towards a multi-chain future for SHIB.” Following these developments, SHIB’s lead developer Shytoshi Kusama announced that a new token, TREAT, will be released soon. Kusama’s announcement created great excitement in the community, and experts stated that this innovation could positively affect the SHIB price.
According to market data, SHIB traded between $0.00002261 and $0.00002402 over the past 24 hours. Price fluctuations were in line with general cryptocurrency market trends. However, long-term expectations are positive due to the decrease in supply and the impact of new projects.
Finally, Whale Alert data showed that 2.88 trillion SHIB were moved via Turkish cryptocurrency exchange BTCTurk, worth around $65.7 million, demonstrating the interest of major investors in the Shiba Inu.
The increase in Shiba Inu’s burn rate and community-driven projects point to positive expectations for the cryptocurrency’s future, with analysts predicting that the SHIB price has strong upside potential amidst declining supply and community support.