Shiba Inu has once again caught the attention of investors despite the volatility of the crypto market. Interestingly, the price of the meme coin rose against the broader market trends, mainly due to a 795% increase in the burn rate.
decrease in supply can be a bullish factor that can affect market dynamics depending on demand. A total of 410.727 trillion tokens have been burned from the Shiba Inu initial offering (IPO) so far. Among the tokens burned, a significant portion was claimed by the address 0xa9d1e08c…, which destroyed 8.56 million SHIB in a few transactions.Shiba Inu price is rising
According to the latest data, SHIB price is 8.63% It is tradingup at 0.00001811. Coinglass data shows a positive
trend in the market for Shiba Inu futures. Futures open interest (OI) increased by 11.96%to 37.09 million dollars, while derivative volume increased 0.38% to 166.26 million dollars. This data shows that investor interest in the asset increased, which coincides with the price rise seen today.
The above is the detailed content of Shiba Inu (SHIB) Burns Skyrocket 795%, Reigniting Market Optimism. For more information, please follow other related articles on the PHP Chinese website!
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