Shiba Inu (SHIB) ecosystem has a robust deflationary mechanism in place, ensuring a stable balance between demand and supply for SHIB. This mechanism has recently burned nearly 19 million tokens to restore its price momentum.
The burning rate of Shiba Inu (SHIB) has skyrocketed to 101%.
The Shiba Inu ecosystem is currently micro-managing various new features. With the emergence of the new blockchain version of Shiba Inu Eternal Game, the token is striving to regain its lost valuation and make its way to the top of the radar.
According to the latest data provided by Shibburn, the SHIB ecosystem has burned approximately 19,603,797 SHIB in the past 24 hours, resulting in a burning rate percentage of 101%.
Based on the latest statistics of the burning mechanism, the SHIB ecosystem and community members seem to be very interested in exerting deflationary pressure on SHIB, hoping to increase its price in the future.
SHIB is currently experiencing a significant price decline, stabilizing at a lower price of $0.00001688. The token has dropped by 4% in the past 24 hours. Despite the decrease in valuation, the SHIB community remains unfazed and continues to support the token, even in the face of bearish market sentiment.
In such challenging times, Lucie, the marketing director of Shiba Inu, shared how the current market is presenting a fairly neutral stance on X. She retweeted a post from a community member, reiterating the fact that people should focus on buying the dips to enjoy profits when the market shows signs of a bullish trend.
The Future of Shiba Inu: When will it reach $0.01?
Under the current burning mechanism, the deflationary mechanism of Shiba Inu can greatly help stabilize SHIB and reclaim its position in the top 10 high market cap cryptocurrencies race. At the same time, for SHIB to reach $0.01, its valuation would need to increase by nearly 58,957%.
“The price of Shiba Inu would need to increase by 58,957.13% to reach $0.01. According to our predictive algorithm, the price of Shiba Inu will not reach $0.01. The highest expected price estimated by our algorithm is $0.0023 on January 1, 2049.”