Shiba Inu Coin Breaks New Ground With 1.5M Holders Achieved
Shiba Inu (SHIB), a popular meme coin, has reached a milestone of 1.5 million on-chain holders, demonstrating the strong growth of its community. At the same time, the SHIB burn rate in the past 7 days has increased by 10% compared to the previous week, contributing to the reduction of circulating supply and potentially positively affecting the value of the token.
Increase in the number of SHIB holders
The increase in the number of SHIB holders reflects the community's growing confidence in the long-term potential of this coin. Notably, the majority of investors have been holding SHIB for more than a year, indicating a long-term investment trend and stability in the community.
SHIB burn rate increases significantly
Over the past week, the SHIB community burned more than 2 billion tokens, marking a 7,418% increase compared to the previous week. Token burning is a deflationary strategy that reduces the circulating supply, which can put upward pressure on the price of SHIB.
Impact on SHIB Price
The reduction in supply through the burning mechanism combined with the increase in the number of holders can create a positive momentum for the price of SHIB. Analysts predict that if this trend continues, SHIB could reach higher prices in the near future.
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Conclusion
Reaching 1.5 million holders and increasing token burning rates shows that Shiba Inu is growing strongly and can continue to attract the attention of investors. However, as with any investment, investors should be cautious and do thorough research before entering the market.