#纳斯达克100指数宣布纳入微策略
SHIB Burn Rate Mutation May Trigger Price Frenzy!
Let's Talk About Burn Rate
A post on platform X says that Shibburn will update the burn activities and price performance of SHIB, this meme coin, in real-time. With such a large total supply and low price, thanks to the power of the community, a deflationary mechanism has been established.
Look at the daily burn rate. In the past 24 hours, 2,242,442 SHIB were sent to the 'dead wallet', accounting for 81.06%. But looking at it over a week, the overall burn rate is lower, only 96.91%, with a total of 87,892,567 burned.
Latest SHIB Market Data: $SHIB price 0.00002865 USD (1-hour change 0%, 24-hour change +3.65%)
Market Cap: $16.894 billion (up 3.63%)
Total Supply: 589,257,293,677,689 SHIB
Amount of Tokens Burned
Past 24 Hours: 2,242,442 SHIB (down 81.06%)
Past 7 Days: 87,892,567 SHIB (down 96.91%)
This indicates that, to stabilize supply and price, everyone burned fewer tokens this week.
Market analysts say this might stir up emotions. Investors and traders may react upon seeing the community's efforts to burn tokens. Moreover, the burn rate this week suggests that the deflationary mechanism is working, preventing a sharp price drop.
Overall, investors may feel that SHIB is about to increase in price, boosting their confidence in investing. If this momentum can be maintained, SHIB's price may soar.
The Outlook for SHIB in the Larger Environment
As I write this, SHIB's price is 0.00002811 USD, rising by 0.45% in 24 hours. Although trading volume has dropped by 23.47%, only $831 million, the price increase indicates a shift in momentum.
SHIB has been rebounding this week after previously breaking below the important support level of 0.000032, dropping to a low of 0.00002447 USD. Fortunately, the burn activity has supported its recovery.
In general, if the entire cryptocurrency market warms up, SHIB's price may also soar.
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