Token

Future

Shiba Inu

Coin

<html>
 <head></head>
 <body>
  <p style="text-align: justify"><a href="https://en.coin-turk.com/big-decline-in-altcoin-that-stamped-the-market-last-week-value-loss-approached-50-percent/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Token</a> burnings, which aim to reduce circulation supply, have significant effects on the prices of altcoins. Particularly for meme coins with massive supplies, burnings have become a tool to keep communities engaged. The latest developments for the second-largest meme coin indicate a significant burning.</p> 
  <h2 style="text-align: justify" id="shiba-coin">Shiba Coin</h2> 
  <p style="text-align: justify">The <a href="https://en.coin-turk.com/arkham-detects-a-surprising-transaction-series-of-5-2-trillion-in-shiba/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu ecosystem took a significant step towards expansion with the introduction of the Shiba<em>rium</em> Layer-2 protocol. The beta testing has yielded positive results in the initial weeks. According to on-chain data from the local Puppyscan testnet of Shiba Inu, the total transaction count on <em>Puppyscan</em> reached a milestone of 30 million transactions.</p> 
  <p style="text-align: justify"><img decoding="async" class="size-full wp-image-238030 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/Shibarium-Testnet.png" alt="" width="1600" height="326"></p> 
  <p style="text-align: justify">Shytoshi Kusama, the lead developer of Shiba Inu, praised the positive start by announcing the “Shibarium post” through his official Twitter bio. The above graph indicates that the project has been well received within the <a href="https://en.coin-turk.com/shiba-coin-faces-market-shift-double-digit-loss-to-possible-upsurge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SHIB</a> community.</p> 
  <h2 style="text-align: justify" id="shiba-coin-burning-and-future">Shiba Coin Burning and Future</h2> 
  <p style="text-align: justify">With over 17 million Shibarium wallet addresses created, the Shiba Coin ecosystem will have made an impressive start if the same interest continues on the mainnet. Of course, this could significantly contribute to the increase in the SHIB price.</p> 
  <p style="text-align: justify">A popular SHIB analyst highlighted the bullish sentiment surrounding Shiba Inu’s recent product development moves, predicting that Shibarium could encourage adoption and increase the monthly SHIB burn rate to 5 trillion tokens. Considering the current market price of $0.0000077, this translates to a monthly burn of $40 million.</p> 
  <p style="text-align: justify">Furthermore, with this burn rate, the circulating supply of SHIB will be halved within five years. If strategic investors buy into this bold SHIB token burn prediction, the demand for SHIB could gradually increase in the coming weeks. As you know, in cryptocurrencies, expectations often outweigh events, and a monthly burn of $40 million could pave the way for a massive price surge. However, for this to happen, the demand during the testnet phase will need to transition to the mainnet.</p> 
  <p style="text-align: justify">On the price front, bulls are currently unable to break the resistance at $0.0000085. If demand increases due to burn expectations, the rising demand could eliminate the resistance and initiate a new rally towards $0.00001.</p> 
  <h5>The post <a href="https://en.coin-turk.com/shiba-coin-and-its-future-burning-and-potential/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Coin and its Future: Burning and Potential</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS.</a></h5>
 </body>
</html>

Shiba Coin and its Future: Burning and Potential

Table of Contents

COINTURK NEWS

Other articles published on Jul 18, 2023

Game Launch Boosts Sui Network's Transactions and Active Addresses

Riot Blockchain: Steady Climb After a Rocky Dip

SOL’s Clean Breakout Leaves Popular Trader Extremely Bullish

DOGE and SHIB Price Analysis for July 18

MATIC (Polygon) Price Prediction: Will it Hit $2 in the Near Future?

Sui (SUI) Price Prediction 2024, 2025, 2026-2030

Join our free newsletter for daily crypto updates!