Shiba Inu continues to attract the attention of investors with token burning operations in recent weeks. In the last seven days, the burning of 535 million SHIB strengthened the expectations of price increase with the reduction of supply. The price increased by more than 2 %in the last 24 hours has led to positive expectations among market participants. Experts, if the existing technical levels are exceeded, Shiba Inu can reach higher values, he says.
Shiba Inu Token Burns and Supply Effect
Last weekly data show significant supply contraction in the Shiba Inu ecosystem. The burning mechanism reduces circulatory supply by increasing the number of tokens sent to dysfunctional wallets. This process stands out as an important element that can have positive effects on price for long -term investors.
So far, a total of 410 trillion shibs have been burned. The destruction of an average of 5.11 million toks per day is considered as a factor that can change market dynamics. Protection of supply-demand balance can help to continue investor interest. Market analysts think that the price of low supply can support upward in the long run.
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Technical Analysis and Possible Price Movements
Analysts, Shiba Inu’nun technical indicators by drawing attention to the price is approaching critical levels, he says. According to technical analyzes, if the price exceeds the points of resistance, a possibility of an increase up to 22 %may arise. The formation seen in short -term graphs indicates that the new peaks can be seen if the upward break is realized.
According to a statement by Rose Premium Signals, Shiba Inu is forcing the upper resistance zone of a 4 -hour graph. If the price exceeds the specified levels, investors may expect a larger price movement. Technical indicators continue to give bull market signals.
Another factor that increases the interest in Shiba Inu is the tendency to recover in the general crypto currency market. Bitcoin in recent weeks 
$83,921.55 and Ethereum 
$1,929.24 The rise of large crypto currencies, such as, also affects the Altcoin market positively. Investors closely follow the balance of supply and demand and make estimates for future price movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
