Shiba Inu, the popular meme-themed cryptocurrency, has created a positive tone among global investors with its token burn process. According to weekly burn data released on Saturday, approximately 3 billion tokens have been removed from circulation. This development has raised market expectations around the meme coin and investors are aiming to reach record levels in a short time.
Shiba Inu Burned 3 Billion Tokens This Week
According to data shared by official tracker Shibburn, the Shiba Inu community managed to burn 2.83 billion tokens in the last seven days. This massive token burn resulted in a 60% increase in weekly burn rate. Additionally, intraday burn data showed a 400% increase with 267.14 million tokens burned.
Rise Expectation in SHIB Price
The total supply of Shiba Inu has reached 589.25 trillion SHIB so far. This serious decrease in supply increased market optimism in accordance with the law of demand and supply. During this period, SHIB price increased by 5% on a daily basis and reached $0.00003156. Bullish expectations among investors were reinforced with gains of 16% and 68% on a weekly and monthly basis, respectively.
New Token TREAT Prospects
According to news reported by CoinGape, the lead developer of the token, Shytoshi Kusama, hinted that the TREAT token launch will happen soon. This announcement, Ethereum $3,988.5 It further increased investor interest in the new token.
“We will be launching TREAT token soon,” Shytoshi Kusama said.
According to price analysis by CoinGape, the meme coin is predicted to reach record levels by 2025. This expectation is supported by ongoing token burns, community developments, and trending prices. Crypto enthusiasts expect SHIB to break even higher.
These massive token burns by Shiba Inu are carried out within the scope of the strategy of increasing the demand of the memecoin by reducing its supply. This strategy contributes to sustainable growth of the token while increasing confidence in the market overall.
As the token burning process continues and new developments arrive, Shiba Inu’s market performance is expected to continue strongly. Investors believe that if these positive dynamics continue, SHIB’s value will continue to increase.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
