Shiba Inu tokens have shown a significant increase in burns and price resilience, attracting analysts' attention to its short-term prospects.
Increase in Token Burns
In the past 24 hours, the burn rate of Shiba Inu tokens surged by 48,244%, with over 87 million tokens burned. Tracking data shows that 87,957,833 SHIB were removed from circulation, putting pressure on the token supply.
Price Levels and Support
As of writing, Shiba Inu's price is $0.00001392, marking a 7.57% increase in 24 hours. The token has remained above the support level of $0.000010, which acts as a strong point for buyers. Technical indicators suggest the possibility of reaching $0.00002 if current market conditions continue.
Shibarium Network Achievements
The Shibarium network, a layer-two solution for Shiba Inu, has reached a significant milestone by processing over 1.51 billion transactions with a daily activity of 4.69 million transactions. Currently, there are 267.88 million wallet addresses on the network, reflecting broad adoption since its launch.
The combination of rising burn rates, current price support, and active use of the Shibarium network has drawn attention to Shiba Inu's short-term prospects. If buying interest persists, the $0.00002 level becomes a tangible target.
