Shiba Inu community, in the last 24 hours of approximately 284 million toks drew attention to the irreversible destruction. The burning of tokens brought positive expectations within the framework of long-term supply-demand balance. Following this development, the market began to evaluate the future with a cautious optimism.
Token burning process and amount
In the official data provider’s information, it was reported that Shiba Inu Tokens were burned with an increase of around 38000 %in the last 24 hours. In the transactions, the destruction of 263,70 million toks from a certain wallet address drew great attention. Such large -scale transactions are evaluated within the scope of the burning mechanism affecting the permanence of tokens.
Tokenlar is sent to a special “empty” address and made irreversible. Thus, while the number of circulating tokens is a decrease, the pressure on supply is thought to have a positive impact on the price in the future.
Market Review and Price Status
After the burning process, Shıb’s price is $ 0.000013. Market analysts say that in the short term, such great burns do not have deep effects on the price. However, in the long run, the decrease in supply is expected to support the price.
The current transaction volume and price consolidation led to a cautious approach to investors. Currently, the current support level is seen at $ 0.000012.
Future expectations
According to some market evaluations, Shıb is currently in the buying area. Investors predict that price increases may be experienced soon in line with technical data and on-achain indicators.
COOKAPE: Strong technical indicators and On-Chain data indicate the price increase in the near future.
This assessment supports the general view that the restriction of supply will increase investor confidence in a long time.
While this large -scale token burning movement, which is realized by the community, contributes to the formation of future expectations in the market, it is important to closely monitor support levels and technical indicators in the light of existing data.
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.
