Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
The price of Shiba Inu is expected to rise by 51%: Reasons include active token burning and the progress of Shibarium

The price of Shiba Inu is expected to rise by 51%: Reasons include active token burning and the progress of Shibarium

Bitget2024/02/24 14:03
A prediction suggests that the price of Shiba Inu may increase by 51% in the near future. Factors such as active token burning of SHIB and the development of Shibarium could positively impact its asset value. Despite Shiba Inu's recent poor performance, it remains a topic of interest and is often the subject of bullish forecasts. Twitter user $SHIB KNIGHT predicts that SHIB might be on the verge of a breakthrough, with prices rising by 51% within seven days. ChatGPT estimates that regulatory developments, bullish conditions across the industry, and adoption are key factors. Additionally, technological advancements related to Meme coins could also play a role.
 
Notably, Shiba Inu's layer-2 scaling solution - Shibarium - has made significant progress since its launch in August last year. Another factor potentially driving up SHIB's price is successful execution of Shiba Inu’s burn mechanism which reduces circulating assets making them more scarce over time and possibly more valuable. Latest data shows that over 41% of maximum supply for SHIB has already been burned.
 
 
 
 
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!