Here are the positive developments expected for the Shiba Inu price increase
The popular meme coin shiba inu, which operates on the Ethereum blockchain, was on the agenda recently with its price currencies and whale activities. However, on Tuesday, January 23, SHIB attracted attention with the burning of 14 million tokens. The burn rate of the well-known meme coin has increased by approximately 457.48 percent in the last 24 hours. This significant rise in burning activity has caused the number of meme coins and large cryptocurrencies to move.
Moreover, according to Etherscan’s features, this increase in SHIB burn rate overshadowed the large transfer of SHIB to the daily budget. This transfer, which took place as the cryptocurrency SHIB was decreasing, was chosen as Shiba’s effort to provide assistance to SHIB tokenomics.
Do you understand what SHIB burn rates and whale activities are?
Data published by Shibburn, a platform that tracks SHIB burn rates with updated data, reveals that 146.26 million SHIB tokens were burned in the last 24 hours. With such a tremendous amount, Shiba seems to have attracted the attention of crypto market enthusiasts globally, with significant scraping exhibited by the crypto community. This significant burning activity contributed to a reduction in value that was not taken into account in the total supply of SHIB tokens. In the last seven days alone, 152,246,124 SHIB tokens have been removed from circulation through various transactions. The amount of coins burned in the SHIB supply was recorded as 410,708 Total records.
There was also a dead budget transfer, which showed that the brate 100 million SHIB was burned, highlighted by Shiba crypto systems. This move marked another flurry of steps helping SHIB tokenomics. Interestingly, moving in the ongoing middle, the broader crypto exchange has emerged with another whale transaction. According to systems on Whale Alert’s chain, the 4.27 series SHIB was moved between unknown hours. This created additional implications for the token. Following the whale transactions and burning event, the price of meme coin is facing a decline in recordable value.
Shiba Inu price is falling!
At the time of writing, the price of the dog-sized breast coin Shiba Inu has fallen a staggering 4 percent in the last 24 hours. Currently the dollar is trading at 0.000008839. This means that the charts can be used within a period of 7 minutes.
Shiba Inu current price chart
Additionally, even the monthly chart artist improved the bearish trend on the crypto horizon, posting a significant 16 percent decline. Overall, relationships are trading at the critical support level. A break below support could lead to further losses or create a long-term downward momentum.
Shiba Inu future projects and expanding and supporting
Meme coin investors hope that with the increasing burn rate, there will be a movement in the price of the coin soon. This is supported by increasing whale activity and rising on-chain data, according to many analysts. This means you can see what’s happening here. Additionally, the Shiba Inu network is supported by many expanding projects.
It is approaching a total of 300 million acres on the Tier 2 network, and this success, combined with increasing budget address, underscores the continued growth of adoption of the Shiba Inu network. As the increased burn rate supply decreases, upcoming developments for the Shiba Inu become a detail that should be taken into consideration by investors. Because SHIB systems continue their concerted efforts to influence the supply and value of the token.
In addition, when popular meme coins such as SHIB, pepe and DOGE decline, the interest in newly emerged meme coins is also increasing. One of them, Sponge V2, draws attention as a project that uses similar ones with its 280 percent AYP rate. It is considered as one of the new coins with the most popular and successful performance of 2023, and is considered as one of the alternative investment choices.
Sponge V2 is available, do you know that?
This will be reflected in Sponge V1 in the same way as Sponge V2 will be displayed differently. This token, which can only be purchased through staking, is being released for those who missed Sponge V1, which was released last year. In the project, which makes a difference with its new staking system and win-the-play (P2E) programs, the game can be played in both legal and free versions. In addition, token purchases offer the opportunity to earn Sponge V2 tokens at a lower fee, and the first SPONGEV1 tokens purchased are staked to win.
Visit Sponge V2
In addition, Sponge is purchased in the official web country with a transaction based on V2 token, and the token is staked in the V2 pool. In addition, it is growing rapidly SPONGEV2 project Current version currently on sale The price is $0.000928. Finally ETH, USDT and the V2 token can be purchased, which gives you a better idea about the card.exciting news, #SPONGES!
There are currently over 5,627,448,685 $SPONGE $5,445,468.33 worth of staked tokens
Stake your coins now to enjoy our current +280% APY!
GO GO GO GO#SpongeV2 #Crypto #100x #Bull pic.twitter.com/PsD2Sycxjj
— $SPONGE (@spongeoneth) January 22, 2024
Visit Sponge V2
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