The second largest meme token is back on the agenda these days. There are interesting developments, especially about cremations. The idea of burning trillion-dollar supplies with community support keeps the SHIB army strong. Many meme tokens (even LUNC can be included) are motivated by the motivation to burn tokens in order to stay alive. So what’s the latest?
Shiba Coin Burning
According to Shibburn’s Twitter account, 223,264,370 Shiba Coins have been burned in a total of 51 transactions in the last 7 days. Considering the 106,780,540 SHIB Tokens burned in 29 transactions in the previous week, this represents an increase of about 100%. Similarly, the number of transactions carrying SHIB to be burned also increased. The SHIB army burned 134 Million Shiba Coins in a single day, according to the largest daily burning since October 12 this week. In the last 24 hours, a total of 1,099,842 SHIB tokens were burned in 5 transactions.
Since SHIB has in circulation supply of 589,370,934,643,681 units, there is still a lot of stretching to go. However, considering that he set out with a supply of 1 quadrillion, his achievements are admirable. If Vitalik had not donated some of the supply sent to him for the burn to India, we could have been talking about a supply of less than 500 trillion.
Shiba Coin Price Review
SHIB finds buyers at $0.00000956 at the time of writing. Despite the Dogecoin’s rise approaching 10%, the SHIB price continues with an increase of 2.8% for the day. The total market capitalization is 5,6 billion dollars. After seeing the bottom of the dollar at 0,00000817 on November 22, the popular meme coin saw a gradual recovery. The bullish outlook continues as the SHIB price holds the critical zone. The price, which is expected to move between MA50 and MA20 daily in the coming period, may reach the ceiling of Dec. 0,0000112. For this, the continuation of the DOGE’s ascension will be supportive.
According to IntoTheBlock data, 54% of SHIB investors have become long-term investors, and the percentage of wallets that make short-term and medium-term purchases in total is decreasing. This data indicates that more investors are expecting a long-term rise in the price. The biggest catalyst for SHIB, which has paid its share of the general collapse in the crypto currency markets, will be Elon Musk’s official announcement of crypto payments for Twitter.
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