Shiba Inu (SHIB) ecosystem has a powerful deflationary mechanism that ensures a stable balance between supply and demand for SHIB. The mechanism recently destroyed nearly 19 million tokens to restore its price momentum.
Shiba Inu’s burning rate skyrockets to 101%
The Shiba Inu ecosystem is currently micro-managing various new features. With the launch of the new blockchain version of Shiba Inu’s perpetual game, the token is working hard to recover its lost valuation and climb to the top of the radar.
According to the latest data provided by Shibburn, the SHIB ecosystem has burned nearly 19,603,797 SHIB in the past 24 hours, resulting in a skyrocketing burn rate of 101%.
Based on the latest statistics of the destruction mechanism, the SHIB ecosystem and the community seem very interested in exerting deflationary pressure on SHIB, hoping to increase its price in the future.
SHIB is currently experiencing a significant price drop, stabilizing at a low price of $0.00001688. The token has dropped by 4% in the past 24 hours. Despite the decline in valuation, the SHIB community remains unfazed and continues to support the token despite the bearish market impact.
In such challenging times, Lucie, the marketing director of Shiba Inu, shared a fairly neutral stance on X. She retweeted a post from a community member, reiterating the fact that people should focus on buying the dip in order to enjoy profits when the market shows signs of an uptrend.
The future of Shiba Inu: When will it come? $0.01
Under the current burning function, Shiba Inu’s deflationary mechanism can greatly help stabilize SHIB and reclaim its position in the top 10 highest market cap cryptocurrencies. At the same time, to reach $0.01, SHIB’s valuation would need to increase by nearly 58,957%.
“The price of Shiba Inu needs to increase by 58,957.13% to reach $0.01. According to our predictive algorithm, the price of Shiba Inu will not reach $0.01. The highest expected price estimated by our algorithm is $0.0023 on January 1, 2049.”
