Shiba Inu (SHIB) ecosystem has a powerful deflation mechanism, ensuring a stable balance between demand and supply of SHIB. The mechanism recently burned nearly 19 million tokens, the latest move to restore its price momentum.
Shiba Inu Burning Rate Soars to 101%
The Shiba Inu ecosystem is currently micro-managing various new features. With the launch of the new blockchain version of the Shiba Eternity game, the token is striving to reclaim its lost valuation and make its way to the top of the radar by any means necessary.
According to the latest data from Shibburn, the SHIB ecosystem burned nearly 19,603,797 times in the past 24 hours, causing the SHIB burning rate to soar to 101%.
Source – CoinCodex
With the latest burning mechanism statistics, the Shiba ecosystem and community members seem very interested in exerting deflationary pressure on SHIB, hoping to increase its price in the future.
SHIB is currently experiencing a sharp decline in price, stabilizing at a low price of $0.00001688. The token has fallen by 4% in the past 24 hours. Despite the decline in valuation, the SHIB community remains undeterred and continues to support the token, despite the bearish market impact.
In such a challenging time, Shiba Inu’s marketing manager, Lucie, shared how the current market is displaying a rather neutral stance. She retweeted a colleague’s community post, reiterating the fact that when the market is bullish, people should focus on buying the dip to reap the benefits later.
The Future of Shiba Inu: When Will $0.01 Arrive
With the current burning characteristics, the Shiba Inu deflation mechanism can greatly help stabilize SHIB and reclaim its position in the top ten high market cap cryptocurrency competition. At the same time, in order to reach a value of $0.01, SHIB needs to achieve a valuation increase of nearly 58,957%.
“Shiba Inu needs to achieve a 58,957.13% increase to reach $0.01. According to our prediction algorithm, the price of Shiba Inu will not reach $0.01. By January 1, 2049, our algorithm estimates the highest expected price to be $0.0023.”
