What to Expect from Shiba Inu Price in 2023

What to Expect from Shiba Inu Price in 2023

The burning actions of the popular chest coin Shiba Inu (SHIB) continued in full swing in 2022. In this context, tens of billions of SHIB tokens went to burning wallets. What awaits the Shiba Inu in 2023 as this supply-decreasing activity continues?

83 billion SHIB burned in 2022, what’s next?

SHIB Burn Tracker reports that in 2022, 83 billion SHIB tokens went to burn wallets. That equates to $1.74 million over the annual arithmetic average SHIB price of $0.000021. It also accounted for 0.014% of the total token supply at the start of the year.

What to Expect from Shiba Inu Price in 2023Source: Shiba Burn Tracker

A closer look at the data shows that May had the highest SHIB token burn rate. Also, it turns out that more than 31 billion SHIBs ended up in a dead address. Alternately, SHIB price fell 41.82% in May, seeing its worst monthly drop of the year. Another interesting finding is that the amount of SHIB submitted for burning before this time is increasing every month, but it has fallen, barely surpassing 500 million tokens in December. According to the meter on the Gateway website, 90% of the remaining stock, or 589.6 trillion SHIB, could be burned in 83,018 years.

It is difficult to determine the exact answer to this question. Contrary to popular belief, the more Shiba Inu tokens are burned, the more expensive they are. As a result, the state of the global cryptocurrency market will largely determine the burn rate of SHIB. The Shiba Inu ecosystem will soon have new items, including the Shibarium. Its fans expect the game Shiba Eternity and the award-winning protocol to accelerate token burning.

shiba inu

Shiba Inu (SHIB) reaches two precious milestones

The Shiba Inu has crossed two valuable levels, indicating increased usefulness. This percentage delivered some great news to its community today. SHIB price fluctuates in this middle with a succession of relatively modest red and green candles.

The second largest chest coin by market cap has now reclaimed the top spot amid the top 100 Ethereum whales in terms of transaction volume. The most recognized token is UNI. stETH is also on its side. SHIB does not hold the title of the most actively traded cryptocurrency asset in recent times. It is possible to say the same for the highest dollar token. According to this article, these wallets are currently worth a total of $44,666,060. This corresponds to 5,539,064,777.34, or more than 2% of their compromised portfolios.

What to Expect from Shiba Inu Price in 2023

The Shiba Inu has often held these situations this summer and before. But a lot has changed for this cryptocurrency since then. Especially the burn rate. In early autumn, the latter quickly fell. SHIB Army has withdrawn around 80 billion chest coins this year. However, the Shiba Inu’s burn rate has decreased by more than 85% in the last day. Also, only 1,024,814 chest coins were kept in non-spendable wallets.

Shiba Inu’s holder count has increased by nearly 2,000 in the last 48 hours. According to screenshots posted by the Shibaburned Twitter handle, SHIB Army’s rise reached a total of 2,600 people on December 28 and 29. However, according to the Shiba Inu page on the WhaleStats website, there are currently 1,275,166 SHIB users. That’s 1,000 more than one of the screenshots from yesterday showed.

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