• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shiba Inu: how token burns impact cryptocurrency price

user avatar

by Giorgi Kostiuk

4 months ago


In the past 24 hours and over the week, Shiba Inu (SHIB) has demonstrated interesting token burn metrics and how these affect price. With growing interest in the cryptocurrency, it is essential to understand how these processes might influence its value.

Burn rate activity and its implications

According to Shibburn, 2,242,442 SHIB tokens were burned in the past 24 hours, accounting for 81.06%, while 87,892,567 tokens were burned over the week, representing 96.91%. This indicates deflationary mechanisms supporting the token’s value.

Market reaction and outlook for SHIB

Market analysts suggest that the decrease in weekly burn activity may stimulate public sentiment as traders and investors witness community efforts to influence supply and price. The weekly decrease in burn activity might positively affect the price.

The decrease in weekly burn activity suggests that the deflationary mechanisms are effectively at work.Market Analysts

Price forecasts and market dynamics for Shiba Inu

Currently, SHIB is priced at $0.00002811, reflecting a 0.45% increase in the last 24 hours. Although market volume is down by 23.47% to $831.44 million, price appreciation could signal a shift in momentum. The price growth is expected to continue despite the subtle decrease in burn rate activity.

Overall, the current token burn activity and positive market changes could instill confidence in investors regarding SHIB’s continued price growth. This could trigger a price surge if such a trend persists.

0

Share

Other news

Dragoin – The Best Telegram Game with Real Rewards

Dragoin introduces a new game on Telegram where users can earn cryptocurrency by performing simple actions.

user avatarGiorgi Kostiuk

4 minutes ago

Bitcoin Becomes the 5th Largest Asset in the World, Surpassing Google

Bitcoin has overtaken Google in market capitalization, becoming the 5th largest global asset and highlighting the growing recognition of cryptocurrency.

user avatarGiorgi Kostiuk

5 minutes ago

Guangzhou Court Divides Virtual Assets into Categories and Confirms Restrictions

The Guangzhou Internet Court analyzes virtual asset categories and reaffirms that unauthorized crypto trading lacks legal protection in China.

user avatarGiorgi Kostiuk

7 minutes ago

Senator Lummis Criticizes Withdrawal of Fed's Crypto Guidance

Senator Lummis expressed dissatisfaction with the Fed's withdrawal of crypto guidance, highlighting issues for banks in this area.

user avatarGiorgi Kostiuk

23 minutes ago

Why MAGACOINFINANCE is Gaining Interest in the Crypto Community

MAGACOINFINANCE draws interest from traders as Bitcoin and Ripple regain their positions.

user avatarGiorgi Kostiuk

26 minutes ago

Seraph in the Darkness Launches Season 3 with $SERAPH Token on Steam

Season 3 of Seraph in the Darkness introduces the $SERAPH token, enhancing the game's economy and player rewards.

user avatarGiorgi Kostiuk

26 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.