SHIB coin aims for $0.001, burn rate soars 1500% on the back of ecosystem expansion
SHIB burn rate soars 1500%, 33 million tokens destroyed, and circulating supply significantly reduced
#SHIB burn rate for the week totaled 4,. 4 million tokens, which contributes to market optimism and bullish sentiment for the #meme .
#Shibarium expects a target price of $0.001 this month, supported by the development of the ecosystem and the growing popularity of Shibarium.
In the last 24 hours, the number of SHIB coins burned has increased by 1,500%; 33 million tokens have been withdrawn from circulation.
The number of tokens burned has increased dramatically. This affected supply, paving the way for a possible price increase.
These reductions are in line with the law of supply and demand, which is favorable for SHIB.
Furthermore, the weekly burn report showed that a total of 44 million SHIB tokens were burned. This prolonged burning activity indicates that market participants' expectations for the #token meme are rising, indicating a positive trend.
Shiba Inu's price rose 2% in today's trading, trading at USD 000002282. Some experts believe that breaking the critical $0000025 mark will pave the way for SHIB to reach its $0.001 target this month.
market analysts believe that higher token burn rates and ecosystem development will remain bullish in the short term.
New developments in the Shibarium community, such as the growing use of the Shibarium blockchain, are also contributing to the growth of the market.
The growing popularity of Shibarium as a hub for decentralized applications also supports various usage scenarios.
addition, Shibarium's token burn mechanism aims to continually reduce the supply of assets. As tokens are withdrawn from circulation as part of the burn strategy, SHIBs become scarce. As a result, the value of the tokens increases and the demand for them increases.
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