Is the Shiba Inu price poised for a rally to its all-time high, or should you consider backing Love Hate Inu for potentially 100x gains? This update explores both options, providing insights into these two popular cryptocurrencies and their potential future performance.
Shiba Inu Sees Decreased Circulating Supply
The Shiba Inu (SHIB) network has experienced a notable drop in circulating supply, with nearly 250 million tokens recently taken out of circulation. The removal of such a considerable amount of tokens from circulation could positively influence Shiba Inu’s value.
As token supply diminishes, scarcity may rise, possibly resulting in increased demand and higher prices. This progress comes after the meme-based cryptocurrency’s recent surge in network and market activity.
Token Burn and Market Momentum
Recently, Shiba Inu has gained traction in the market, moving past the 200-day moving average. This positive trend has caught the attention of investors and traders looking for good opportunities in the crypto space. The increasing interest, along with recent token burn events, indicates that Shiba Inu could be heading for more growth.
The Shiba Inu ecosystem also profited from the latest Ethereum unlock, which triggered a spike in cryptocurrency market volatility. As market volatility increases, investors often gravitate towards riskier investment options, like Shiba Inu.
Shiba Inu’s Recent Token Burn and Market Developments
While the removal of 250 million tokens from circulation and recent market developments may hint at a positive future for Shiba Inu, it is essential for investors to exercise caution and thoroughly research before entering the market.
Cryptocurrency markets are highly volatile, and unforeseen events or market shifts can significantly impact the price of digital assets.
Shiba Inu Price
Today’s live Bitcoin price stands at $30,295, accompanied by a 24-hour trading volume of $11.4 billion. Over the past 24 hours, Bitcoin has experienced a 0.50% decrease. According to CoinMarketCap, Bitcoin currently ranks #1, boasting a live market cap of $586 billion.
With a circulating supply of 19,347,768 BTC coins and a maximum supply of 21,000,000 BTC coins.
On the technical front, Shiba Inu is gaining immediate support near the $0.0000114 level, and a bearish break below this level can extend the downtrend until $0.00001101. Whereas, the resistance continues to stay around $0.0000118 level and a bullish breakout of $0.0000122 level.
Let’s take a look at the alternative coin,
Shiba Inu’s Alternative – Love Hate Inu
Love Hate Inu is a novel cryptocurrency that blends the appeal of meme coins such as Dogecoin with the functionality of Ethereum. It employs a vote-to-earn mechanism, allowing users to stake their coins for voting and subsequently earns additional tokens.
The present presale price stands at $0.000115, and the presale is set to conclude in a few weeks at $0.000145.
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