#SHIBA✅🚀 #shibdecola #SHIB/USDT
🚀 Shiba Inu Price Eyes 76% Rally as 6.8 Million SHIB Tokens Burned
Take advantage of the market rally...
Shiba Inu price has underperformed other popular meme coins in recent days. SHIB is trading at $0.000026 on Monday, where it has been stuck since November 10, as investors anticipate further upside as the burn rate recovers.
🔸 Shiba Inu Price Likely to Surge 76% as 6.8 Million SHIBs Burned
A possible catalyst for SHIB’s price is that the number of coins in circulation continues to fall, aided by robust token burns. Data from Shiburn shows that the number of such burns has increased by 40% in the last 24 hours to 4.85 million.
Therefore, the number of Shiba Inu tokens has continued to fall from the original 999 trillion to 410 trillion, a number that will continue to fall in the future.
Token burns are when SHIB coins are moved to an inaccessible wallet, either voluntarily or due to ecosystem fees, to be removed from the circulating supply forever.
These token burns help create value for existing tokens by reducing the number of coins in circulation. It is often compared to when a company executes a share buyback program, which in turn increases earnings per share.
Some of the major players in this ecosystem are ShibaSwap and Shibarium. ShibaSwap is a decentralized DEX network where people exchange tokens, while Shibarium is a layer-2 network that has completed over 500 million transactions. Data on its website shows that ShibaSwap’s volume jumped to $75 million this month, the highest level since March.
Shiba Inu’s price has underperformed other popular meme coins in recent days. SHIB is trading at $0.000026 on Monday, where it has been stuck since November 10, as investors anticipate further upside as the burn rate recovers.