On the first day of 2023, the Shiba Inu (SHIB) price closed the day with a small increase of 1%, showing a sideways movement, before reaching the $ 0.0001 level. Cryptocurrency investors began to review their expectations for the future of SHIB by evaluating this performance. SHIB's price is shaped by the influence of market dynamics and supply-demand balances.
One of the most important factors in the price of Shiba Inu stands out as changes in token burn rates. According to the latest data, only 55.54 million SHIB tokens were burned last week, a significant decrease compared to previous periods. This decrease in token supply caused the expected jumps in the SHIB price not to occur and led to prices remaining at a stagnant level.
Although a 55% increase in daily burn rates was observed, this rate fell short of market expectations. According to experts, such low burn rates could make it difficult for SHIB to reach its long-term target price levels. While this situation raises concerns among investors, other dynamics continue to be effective in the market.
At the time of writing, SHIB is trading at $0.00002015. The 0.4% increase during the day provides a limited recovery amid volatile price movements from time to time. However, innovations planned for 2023 and beyond are increasing optimistic expectations among investors. In particular, Metaverse projects and the TREAT token launch are creating a positive atmosphere.
According to an analysis by CoinGape, if the market recovers, SHIB is expected to reach $0.0001 by early 2025. Such positive expectations are increasing the interest of the Shiba Inu community in the projects. However, uncertainties in market conditions continue to keep the risks to these goals alive.
Shiba Inu’s market performance is affected by many factors, including the token supply-demand balance, investor confidence, and innovations from the development team. These complex dynamics are among the important elements that investors should carefully monitor when creating their strategies.