The Shiba Inu Community burned a huge token to ensure price stability. In the last 24 hours, the amount of SHIB burned increased by 284.3 %to a total of 12.5 million tokens removed from circulation. This move created great excitement in investors and gave signals of rise in the price of the Shıba Inu. So, will this price increase continue?
Does Shıb burning open the door to price increase?
The Shiba Inu community aims to move the price up by reducing the token supply. The burning of 12.5 million SHIB increased the total amount of token to 410.7 trillion. The remaining total supply was calculated as 584.2 trillion shib.
These burning procedures can increase the demand by increasing the interest in Shıb. Shıb, who recorded a 4.35 %rise in the last 48 hours, can continue this trend? Investors expect the price to break the key resistance levels. If the demand continues to increase, the market value of Shıb may also rise rapidly.
Shıb Technical Analysis: What are the critical levels?
SHIBA INU is currently trading at $ 0.00001866. After a decline trend that lasted weeks, it increased for the first time for the first time. Shıb, which made the closing on Wednesday with a profit of 2 %, continued its rise on Thursday.
However, the price must exceed $ 0.00002202 to enter a definite bull trend. If this resistance level is broken, the investor confidence may increase and accelerate the rise of SHIB. Otherwise, the price may be possible to return to support levels. Especially withdrawal to $ 0.00001750 can create a new opportunity for investors.
Shiba Inu’s Future: Will the rise continue?
Investors closely follow Shıb’s price movements. Large burns can restrict the supply and ensure that they gain value in the long term. In addition, with the support of the community, it may be possible for Shıb to enter the rise trend.
However, the mobility and the direction of Bitcoin throughout the market will also be decisive. If Shıb exceeds the resistance level and protects the rise trend, he can see new peaks. Otherwise, investors will have to be careful and follow critical support levels. Now the eyes can continue to accelerate Shıb!
