- Shib is currently at a price of 0.00001522, down 82.8% compared to its peak of 2021.
- A significant increase of 570% of the burning rate was observed on May 22, 2024.
- Despite the challenges, 88% of the community remains optimistic about the future of Shib.
In the world of cryptocurrencies, Shiba Inu (Shib) drew the attention of many. As a second piece of memes, she started the new year on a quieter note. While other digital assets have reached new heights, SHIB’s performance has remained moderate.
Currently, SHIB is at a price of $ 0.00001522, reflecting a slight decrease of 0.037% in the last 24 hours. This price is a significant drop of 82.8% compared to its summit of $ 0.00008,8845, reached in 2021. In the past three years, Shiba Inu has had trouble approaching this peak again.
Despite these challenges, the Shib community remains optimistic. Coinmarketcap data reveal that 88% of respondents hope the potential increase in Shiba Inu, while 12% remain cautious. This feeling is based on an investigation with more than 116,900 participants.
Reduction of the supply of Inu Shiba
Recent developments have added to this optimism. On May 22, 2024, the shib burning rate jumped almost 570%, with more than 12 million tokens withdrawn from traffic. This reduction in the offer could have a positive impact on the value of Shib. In addition, on August 7, 2024, SHIB increased prices by 20%, with transaction volumes nearly $ 120 million and an increase in the burning rate by 1,244%. These measures suggest a potential upward trend for Shib.
However, the challenges persist. On August 24, 2024, the burns rate had decreased by 83.19%, with only 4.8 million sampon tokens burned in 24 hours. This decrease raises questions about the sustainability of SHIB’s growth.
In summary, while Shib has faced setbacks, community optimism and recent positive metrics indicate a potential for resurgence. Investors must monitor these developments closely to make informed decisions.