There are developments that excite Shiba Inu (SHIB) investors. Starting from November 21, a significant increase in the burn rate of the meme coin was observed. According to the latest data, 14.58 million tokens were permanently removed from circulation, with a 2200% increase in SHIB's supply. This situation is expected to have a positive effect on the price, while leading to a decrease in supply. However, price movements have not yet fully met investors' expectations.
According to data shared by Shibburn, SHIB’s daily burn rate increased by 2225%. On a weekly basis, a total of 50.06 million SHIB tokens were burned. These tokens were transferred to unusable addresses and completely removed from circulation. This burn mechanism is seen as a strategy that can support price growth as it reduces supply and is considered an important step in Shiba Inu’s long-term market strategy.
However, the total supply of Shiba Inu in circulation is still quite high and is calculated at approximately 589.26 trillion tokens. Nevertheless, the decrease in supply is creating expectations for price increases among investors. If demand remains stable, it is thought that the supply-demand balance could put upward pressure on the price.
Despite the increase in burn rates, there has been no significant price increase at the moment. SHIB price has decreased by 2% to $0.00002386 in the last 24 hours. Although the daily trading volume has been limited, investors are still hopeful for a long-term price increase. In addition, the price has increased by 30% in the last month, which is another important factor that has increased investor confidence.
Shiba Inu continues to maintain its strong position in the meme coin category in terms of market value. The increases of 90% to 169% recorded in the last month are remarkable, especially when compared to other popular meme coins such as DOGE and PEPE. Analysts state that the decrease in supply will positively affect SHIB’s price performance in the medium and long term.
These developments are of great importance to the future performance of the Shiba Inu, and investors are watching with interest to see if changes in the balance of supply and demand will lead to sustainable success for the Shiba Inu.