Shiba Inu (SHIB) Burn Rate Rises 6,223%, Bolstering Market Sentiment as Minotaurus (MTAUR) Targets $1 Milestone in Crypto Gaming.
Shiba Inu (SHIB) has attracted attention with its remarkable burn rate spike, generating optimism within the cryptocurrency community. Along with this development, a new emerging cryptocurrency, Minotaurus (MTAUR), is gaining traction in the market, positioning itself as a potential competitor that could reach the 1 USDT milestone before SHIB.
Rising Shiba Inu Burn Rate Sparks Positive Market Sentiments
According to the Shibburn tracker, SHIB’s burn rate increased by 6,223% in a single day on November 19. During this period, approximately 290,321 tokens were burned, meaning they were removed from the circulating supply. During the same week, the community removed approximately 135 million SHIB tokens from circulation, leading to a decrease in supply.
The total token supply still stands at 589.26 trillion and the market is showing signs of increased confidence.
https://twitter.com/shibburn/status/1858374626297946310
This was accompanied by a 4% intraday rise in the price of SHIB, which was priced at 0.00002511 USDT at the time of the peak burn rate report. Due to the lower supply, sentiment has turned bullish, which could pave the way for higher prices with a potential breakout to 0.3630 USDT.
SHIB’s Long Road to $1 Despite Market Challenges
Although SHIB has seen some consolidation and rebound, holders are not optimistic about reaching the 1 USDT mark. This price level can only be achieved if the market cap of SHIBs increases significantly, which may not be easy given the current total supply of SHIBs.
Source: X
Nonetheless, technical indicators such as breaking out of a falling wedge pattern have fueled expectations of further price increases. March 2024 may be a potential milestone for the token, with price targets dependent on key support and resistance areas remaining.
Increased trading volume and growing interest in SHIB futures, currently valued at $93 million, further suggest sustained enthusiasm among holders.
Minotaur (MTAUR): a promising competitor in the crypto gaming space
As SHIB struggles with its supply issues, Minotaur (MTAUR)a cryptocurrency based on Ethereum and designed for casual gaming, is quickly gaining attention. Currently priced at 0.00005984 USDT during its pre-sale phase, the token has attracted interest for its utility within the Minotaurus gaming ecosystem.
Minotaurus offers users access to features such as avatar customization and in-game enhancements. Its focus on casual gaming, a sector with a global audience, positions it as an innovative addition to the gaming space. cryptocurrencies. Supported by audits from SolidProof and Coinsult, the project has established credibility and trust, ensuring transparency for participants.
The ongoing presale has exceeded 200,000 USDT in sales, with early participants already experiencing an increase in token value. The project is also generating excitement on social media and has launched a 100,000 USDT giveaway campaign to further engage the community.
Comparing the potential of SHIB and MTAUR to reach $1
Minotaurus’ limited token supply and growing adoption in a targeted gaming market gives it a potentially faster trajectory toward the 1 USDT mark. With pre-sale pricing offering significant opportunities for early supporters, the token appeals to casual gamers and crypto enthusiasts alike.
In contrast, SHIB continues to face challenges due to its massive circulating supply. Although new burning mechanisms are reportedly under development, their execution and effectiveness remain uncertain.
SHIB’s historic growth, driven by community engagement and strategic supply reductions, is a reminder of its potential, although the path to 1 USDT appears longer than MTAUR’s streamlined model.
Website: http://minotaurus.io/
Announcements: https://t.me/minotaurus_official
Cat: https://t.me/minotaurus_chat
Twitter: https://twitter.com/minotaurus_io
This is a sponsored post. The opinions expressed are solely those of the sponsor and readers should conduct due diligence before taking any action based on the information presented in this article.