The dynamics of Shiba Inu (Shib) Supply-Side dynamics screams Bullish, but the second biggest joke cryptocurrency by market value transactions under pressure.
At the beginning of this week, the fire speed of Shib rose to more than 112,000%, with more than 116 million coins transferred to portfolios that cannot spend money. In other words, these coins were permanently removed from the circulation.
The daily fire speed refers to the number of Shib -tokens permanently destroyed or removed from the circulation every day. Token burns are designed to reduce the delivery of the cryptocurrency over time, so that digital actively brings a deflatory appeal.
“More than 527 trillion Shib -Tokens are approaching profitability, while the fire speed 112,839% exploded by 116 million tokens removed from the circulation,” noted the AI insights of Coindesk.
In addition, the Fundamentals of the SHIB ecosystem, with the growth of the record portion of the growth in registration of more than 1.5 million unique addresses and a significant increase in Shibarium Layer-2 transactions.
Nevertheless, the memecoin remained on the pressure on a central, last -changing owner of $ 0.00001190, which represents a decrease of 2% in the last 24 hours and a decrease of almost 5% for the week.
Staying the token was confronted with a strong sales pressure, with an above -average volume of more than 500 billion units, as a result of which resistance was determined around $ 0.0000122.
Important technical insights
- The double bottom pattern forms on the graphs, indicating a potential rally from 20% to $ 0.000016.
- The most important resistance is set at $ 0.0000122, supported by above -average volumes.
- The narrow trade range ($ 0.00001203- $ 0.000012) indicates the consolidation phase.
- Volume spikes at 07:35 and 07: 46-07: 47 coincided with prices for price repair.