As of today, Shiba Inu (SHIB) is experiencing a slight downturn, trading at around $0.00000731, which reflects a decrease of about 2.75% over the last 24 hours.
Bullish long term
The market sentiment for SHIB has been bearish recently, largely due to broader market conditions affecting many cryptocurrencies. However, SHIB's ongoing developments, like the Shibarium Layer-2 blockchain and increasing burn rates, could potentially drive future growth.
The SHIB burn rate has spiked recently, suggesting that the community is actively reducing the circulating supply, which could have a positive impact on price in the long term. Additionally, the ecosystem's expansion into areas like decentralized finance (DeFi), non-fungible tokens (NFTs), and a proposed metaverse might bolster SHIB's utility and market appeal over time.
Despite the current price dip, many in the Shiba Inu community remain optimistic about the long-term potential of SHIB, especially as the project continues to evolve and expand its offerings.$SHIB $BNB read the feed postšš»šš»šš»šš»šš»