Shiba Inu, the second-largest meme coin, is actively engaging in token burn activities to reduce its supply.
Increase in Burn Rates
Recently, Shiba Inu burned 1.31 billion tokens, contributing to scarcity in the market. The burn rate is a key metric for SHIB, and such actions continue to draw attention to the token.
Support from the SHIB Army
The Shiba Inu community, known as the SHIB Army, has been a major driving force behind the increased token burn rates. Various third-party platforms and projects, such as burn portals and ShibaSwap, play a significant role in automating and incentivizing token burns.
Future of Shiba Inu in the Market
Some analysts, such as Paschal btc, believe Shiba Inu may experience growth, with an anticipated movement toward $0.000025. He noted that key technical signals have emerged, such as a descending wedge and a double bottom, which may indicate trend changes.
Therefore, Shiba Inu actively continues its token burn initiatives, fostering conditions for potential price increases while remaining dependent on market dynamics and community interest.
