Shıb experienced a record increase in 2.085 %in the last week. However, despite this positive development, the price of Shıb said the price decreased. Investors closely follow this situation and are wondering the effect of burns on the price in the long run. In the crypto market, burning processes often reduce token supply and create upward pressure on the price. However, Shıb’s latest price movement did not meet this expectation.
GREAT INCREASE IN SHIB CURRENT
According to Shibburn data, total last week 1.138,148.465 SHIBIt was burned out of the circulation. Most of this burning is the leader developer of the team Kaal Dhailyamade by With a single transaction of 1 billion SHIBIt took place. This was considered an important turning point in the Shiba Inu ecosystem. After this burning, there was a significant decrease in its supply, but there was no expected positive effect on the price.
This great burning process, Shibtorch v2It took place in the same period with the launch of a new burning system. The Shibtorch V2 has been developed to provide a faster and more effective burning process. Moreover, Shibarium networkThe fees obtained from the transactions will be converted to Shıb and automatically burned. This development attracted great attention by the Shıb community. The new system aims to increase the general sustainability of the ecosystem, not only limited to Shıb burns.
Why did the price decline?
Despite the decrease in Shıb’s total supply, the price To the level of $ 0.0000187 by decreasing by 2.75 %it declined. This decline took place in parallel with general market sensitivity. Bitcoin also depreciated by 2.29 %in the same period, traded for $ 102,300. This decrease in Bitcoin increased sales pressure in Shıb and other Altcoins.
Shıb’s price movement continues to be influenced by general trends in the crypto market. Especially New Trade Tariffs applied by US administration to Canada, Mexico and ChinaThe uncertainty in the posts increased. Global economic developments reduce the risk appetite in the crypto market, causing investors to be cautious.
However, the Shıb community thinks that these burns will be effective in the long run. Shibtorch v2In the event that the increase in transaction volume and the automatic burning process continues, the effects on the price may be felt more clearly in the coming months. Analysts, despite short -term fluctuations, draws attention to Shıb’s long -term accumulation phase.
