Get ready for a 12% surge when the Shiba Torch burn gateway launches!
On Friday, ShibTorch, a burn gateway, was announced by Layer 2 Shibarium of Shiba Inus.
Announcement: All Shibarium transactions now add to token burn.
SHIB is now trading at $0.00001334 and is targeting a 12% gain.
The second biggest meme currency in crypto, Shiba Inu (SHIB), made some important announcements this week. The burn gateway, ShibTorch, was released by Shibarium, a Layer 2 scaling solution. Supporting the asset's bullish thesis, token burn is now a component of every transaction on the scaling solution.
The launch of the burn portal, ShibTorch, was announced by Shibarium. Every transaction using the Layer 2 scaling approach will use SHIB, decreasing the overall supply. When the supply of an asset decreases, the selling pressure goes down and the price goes up.
Decreased supply of Shiba Inu tokens, among other things, may drive up prices.
Shiba Inu braces for 12% increase
The decline in Shiba Inu population began on March 5. The MACD momentum indicator reveals that the price of SHIB is underlyingly trending upwards. One may argue that SHIB is a good investment since its green histogram bars are above the neutral line.
According to the daily chart of SHIB/USDT, the meme currency has the potential to reach the crucial support level between March and August, $0.00001484, and extend gains by approximately 12%.
At its August 5 low of $0.00001078, Shiba Inu might find support in the downward direction.
