The Number of Shiba Inu Burns Through 2,307%, Here's the Fate of the Dogecoin Killer

Bittime - The crypto world is constantly evolving with unexpected innovations and trends. One phenomenon that has attracted attention is Shiba Inu (SHIB), which is often referred to as the "Dogecoin Killer". Altcoin Sherpa, an experienced crypto trader, recently gave his views on digital assets of this type of memecoin.

Shiba Inu According to Altcoin Sherpa 

Taking to Twitter, Sherpa shared his analysis of Shiba Inu, revealing that while no dramatic price spike is expected, there are some positive aspects in favor of the coin.

• Excess:
  • High Liquidity: Similar to Dogecoin, Shiba Inu has great liquidity, facilitating transactions.
  • Innovation: Developments like Shibarium and token burning activities show growth potential.
  • Dokecoin Replacement: In some cases, Shiba Inu could potentially replace Dogecoin.

However, he also stressed that Shiba Inu's price increase may be limited.

• Deficiency:
  • Limited Returns: Not expected to provide a huge return on investment anytime soon.
  • Position Below Dogecoin: It may still fall below Dogecoin in the Ethereum meme category.

Sherpa advises traders to be patient, considering the Shiba Inu technical chart that shows a "high-frequency trading" pattern.

Check the Crypto Market Today:

Burning Shiba Inu Translucent 2307%

Shiba Inu's burn rate saw a dramatic jump of 2,307% in the last 24 hours, with the burning of over 105.5 million SHIB tokens. Shibariumscan recorded an increase in the number of active accounts to 695 on April 1, up from 630 on March 31. IntoTheBlock reported a huge transaction volume surge of 301.7%, reaching $171.7 million (approximately Rp 2.4 trillion).

Despite a 10% drop in the last 24 hours, significant monthly and yearly increases have allowed Shiba Inu to remove single-digit zeros from its price. The dynamics of the crypto market as a whole will play an important role in determining the future of the Shiba Inu price.

The role of meme coins and Bitcoin as institutional assets will be a major topic in the "Future of Digital Assets" event hosted by Benzinga on November 19.

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How to Buy Shiba Inu (SHIB) on Bittime

You can buy and sell Shiba Inu (SHIB) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Shiba Inu (SHIB) is available on Bittime with the SHIB/USDT market pair. To be able to buy SHIB USDT on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Shiba Inu (SHIB) on Bittime.

Monitor the price chart movements of Shiba Inu (SHIB), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Shiba Inu: Will It Surge 300% or Deeper Correction?

SHIB/USDT Price: 20,000 SHIB Investors Sell Their Tokens, What Sign?

Shibarium: Shiba Inu 2 Layer Blockchain Ecosystem and Token

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.