In the last 24 hours, there has been a significant development in the Shiba Inu (Shib) crypto currency. The ratio of token burning operations in the SHIB network showed a large leap of 3484 percent. In this process, over 537 million Shıb Token was removed from the circulation. According to the data announced, after this move, Shiba Inu’s price increased by about 4 percent in a short time and the total market value was over $ 7.2 billion.
Effects of the increase in burning rate
Token burning operations are known as a closely followed application in crypto currency markets because of the decrease in circulatory supply and potentially upward pressure on the price. This high -volume burning, performed by the Shiba Inu Group, was also positively reflected in the short -term performance of crypto currency. In the last 24 hours, the rise of SHIB has shown that according to some experts, such burning transactions may have an impact on market perception.
However, experts reminded that the rise in Shıb’s price cannot be completely connected to the burning operations and other market factors may also play a role. In this process, analysts stated that the temporary increases in burning rates will be seen in time whether they will create permanent price movements.
Short -term volatility in market value
Shiba Inu’s total market value exceeded $ 7.2 billion after the specified burning process. This increase prepared the ground for Shıb’s remarkable performance in the crypto currency market. The decrease in circulating SHIB supply increased the interest of users and investors to the project in the short term.
Token burning strategies are frequently brought to the agenda by crypto communities to ensure price stability or rise from time to time. Thanks to this method, Shiba Inu, it is seen that a momentum in prices in the last 24 -hour slice.
In the official statement made by the Shiba Inu Group, “The main purpose of the burning process is to increase the long -term value of the project by reducing the token supply.” expression.
The SHIB team and its supporters continue to believe that their current burning policies will contribute to the project in the long run. Investors continue to closely monitor price movements and developments in the network.
In addition, the general volatility in the crypto currency market reveals that changes in the price of Shıb cannot be explained only by supply reduction. Especially the value increases in a short time may be greatly affected by market dynamics.
Experts emphasized that it is not only the burning rates, but also technological and community -based developments in the Shiba Inu network.
Although the high burning rate in Shiba Inu creates a positive perception in the short term in the market, investors should not only act based on such transactions. Considering the reduction and demand balance in token supply and demand balance, price fluctuations seem to continue. It is recommended by experts to consider other financial and technical factors of investors to follow the new burning rates.
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.
