Shiba Inu's Market Performance
Shiba Inu (SHIB/USD) is trading 2.6% higher today, fueled by a dramatic surge in its token burn rate and growing anticipation for the upcoming TREAT token launch. Here’s a breakdown of its current metrics:
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
|---|---|---|---|---|
| Shiba Inu (SHIB) | $0.00002165 | $12.8 billion | +2.6% | -7% |
| Dogecoin (DOGE) | $0.3337 | $49.3 billion | +1.5% | -4.3% |
| Pepe (PEPE) | $0.00001772 | $7.5 billion | +1.5% | -14% |
👉 Discover how token burns impact crypto prices
Trader Sentiment and Price Targets
Crypto analyst Javon Marks highlights SHIB’s sustained post-breakout momentum, suggesting potential for further gains:
- Key Resistance: $0.000081 (261% upside from current levels).
- Long-Term Target: $0.0001553 if resistance is breached.
"The slower rally pace may extend its duration and scale," Marks noted, emphasizing the token’s bullish trajectory.
Token Burn Dynamics
Recent data from Shibburn reveals:
- 28 million SHIB burned in 24 hours, including a single transaction of 17.2 million tokens.
- Burn rate spike: 5,895.9%, drastically reducing circulating supply.
Supply Concentration Risks
- 5 wallets control 57% of SHIB’s total supply, with one holding 41.7%.
- High concentration increases volatility risks from large wallet movements.
👉 Learn about managing crypto volatility
FAQs
Why does burning SHIB tokens increase its value?
Burning reduces supply, creating scarcity and upward price pressure if demand remains stable.
What is the TREAT token?
TREAT is Shiba Inu’s upcoming utility token, expected to enhance ecosystem functionality.
How does wallet concentration affect SHIB?
Large holders can trigger sharp price swings by selling or transferring significant amounts.
This analysis combines on-chain data, trader insights, and market trends to explain SHIB’s recent movements. Always conduct independent research before investing.
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