Hello!!!

Shiba Inu: Can Shibarium Still Carry SHIB Towards $0.01?$

Shiba Inu is currently trading at $0.000008844 and is down nearly 2% in the last 24 hours. SHIB is moving further away from deleting its fifth zero as the token is struggling to climb in the indices. The latest price dip is testing the patience of investors as the majority of Shiba Inu investors want the token to reach $0.01.

The Shibarium layer-2 solution is the only option available that could send Shiba Inu toward the $0.01 path. In this article, we will explain whether Shibarium can still send SHIB to reach the 1-Cent milestone.

We can still hope for Shibarium to send Shiba Inu towards the $0.01 path. However, it comes with a catch which is to burn trillions of SHIB tokens every year. Shibarium can only burn more SHIB tokens if the network is brimming with activities. Therefore, the more activity is engaged on Shibarium, the more fees it will collect for initiating transactions.

This will help Shibarium collect a large number of fees if the network is used by millions of investors. The move will lead to bigger SHIB burns as the fees will be used to send tokens to the dead wallet. There is still a chance for Shibarium to correct course and initiate a process to burn trillions of tokens each year.

If that happens, then Shibarium can indeed send SHIB toward the $0.01 path. However, if it fails to burn trillions of tokens each year, then the 1-Cent dream could only be a myth.

The thread that’s stopping SHIB from hitting the $0.01 mark is the 549 trillion tokens that are in circulation. If the tokens are burned and sent to the dead wallet, not just $0.01, the sky will be the limit for SHIB.
#SHIB2024 #SHIBAnalysis #SHIBNEWS $SHIB

Why is the Cryptocurrency Market Falling Today?

The cryptocurrency market is undergoing a significant correction today. Bitcoin (BTC), the largest crypto by market cap, has fallen 4.4% in the last 24 hours, by over 9% in the weekly charts, and more than 10% over the previous month. BTC has dropped below $39k for the first time since early December 2023.

According to reports, now-defunct cryptocurrency exchange FTX has sold 22 million GBTC shares, further adding to the sell pressure.

Prominent cryptocurrency analyst Ali says BTC’s price could fall to $32,700, a drop of over 16% from current levels.

The downtrend in the market began on Jan. 12, after the SEC (Securities and Exchange Commission) approved 11 spot BTC ETFs (Exchange Traded Funds). Investors began moving assets out from older BTC products, channeling them to the new SEC-approved BTC ETFs.

According to CoinShares’ latest fund flow report, Bitcoin (BTC) saw outflows of over $24 million in the previous week.

Additionally, investors are pricing lowered expectations of the US Federal Reserve cutting interest rates. With no sign of interest rate cuts on the horizon, investors may be weary of funneling money into riskier assets, such as cryptocurrencies.

However, BTC’s halving even in April may offer some cushion to the current scenario.

#BTC #UMA #ETH #etf #Write2Earn

#MyFirstFeedPost Hello, Binance Square!

Binance listing Ice Network token! $$$
For mining free token
Join my team on ice and receive 10 ice when you sign-up using my referral code: https://ice.io/

@donge1996
Enjoy 🥳🥳🥳🥳