Over the past 24 hours, the rate Shiba Inu (SHIB) fell more than 7% to $0,00002968. The meme token's price drop coincided with a significant reduction in its burn rate.
According to the ShibBurn platform, the memcoin burn rate has dropped by about 90% to 413,412 SHIB. This represents a sharp drop after one wallet burned 250 million SHIB in just one transaction on Friday.
Since its inception, the community Shiba Inu burned over 410 trillion tokens, leaving 589 trillion SHIB in circulation. If this process continues, the memecoin rate will grow significantly in the long term. This can also be facilitated by the impressive indicators of the ecosystem Shiba Inu .
Thus, since its creation, the second-level network Shibarium has processed more than 623 million transactions. Recently, the total number of addresses in the blockchain exceeded 2 million. The total amount of blocked funds in the decentralized exchange ShibaSwap reached $28 million. Following the increase in the number of transactions, the commission amount exceeded $3,2 million.
Ценовой график Shiba Inu also indicates a bullish trend for the asset. The memecoin rate is starting to form a cup-and-handle pattern with a depth of about 67%. Thus, the target is set at $0,00005478. However, to begin with, the coin needs to rise to $0,00045. If this does not happen, the price Shiba Inu may fall to $0,000026.
