Shiba Inu Token Prices Fall, Investors Are Cold

Shiba Inu Token Price slumped, anxious investors (Photo; Doc. Teacher Watcher)

JAKARTA - The popular meme coin, Shiba Inu, has again recorded a significant price drop. The drop in SHIB value is in line with the sluggish global trend of the crypto market. However, behind this price drop, there are several positive indicators that attract investors' attention.

Recent data show a drastic increase in the burning rate of the Shiba Inu coin. The burning of this coin, which aims to reduce total supply, is often considered a positive step that can drive price increases in the long term. However, the effect on market prices is still uncertain and depends on a number of other factors.

Despite the decline in prices, these meme coins show an increase in some key metrics. Trading volume increased by 34%, showing investor interest in returning. According to recent data from Shibburn, the Shiba Inu coin burning rate increased significantly by 1565% in the last 24 hours, resulting in 8,560,795 burning coins.

This activity reduces the total supply of SHIB to 589 trillion. This large reduction in available coins sparked market speculation, suggesting a potential sharp increase in SHIB prices due to the burning. This positive development could be a signal of potential price recovery for these meme coins, reversing the recent downward trend.

Based on data from Coingecko, in the last 24 hours, the price of SHIB fluctuates, with a decline in SHIB price of 3.5% a day. SHIB is trading at the level of $0.00001589 or equivalent to Rp0.25 per token. This shows significant market volatility, which is often a characteristic of cryptocurrencies.

Despite the decline in prices, Shiba Inu still has a strong fan base. The increase in trading volume shows that investor interest in this coin is still quite high. However, experts warn that investors should remain cautious and do in-depth research before making investment decisions.

The prospects for the future of Shiba Inu are still difficult to predict. Many factors can affect the price of these coins, both in the short and long term. However, with strong community support and some positive developments, Shiba Inu has the potential to recover and even grow even bigger in the future.

The decline in Shiba Inu prices is part of the normal cycle of the crypto market. However, some positive indicators such as increasing the burning rate of tokens provide hope for investors.