We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Trang web này không cung cấp dịch vụ cho cư dân của Hoa Kỳ.
Market News The Shiba Inu Burn Rate Soars Amid the Declining Market

The Shiba Inu Burn Rate Soars Amid the Declining Market

As a result of the market decline, the price of Shiba Inu remains low despite a substantial increase in its burn rate for the purpose of reducing its circulating supply and increasing its value. This is despite the optimistic progress made with the layer-2 scaling solution, Shibarium.

TOP1 Markets Analyst
2024-04-17
11294

Shiba Inu 2.png 

 

As reported by CryptoPotato, there has been a notable surge in the combustion rate of the widely used meme coin, Shiba Inu, with the intention of diminishing the asset's circulating supply and progressively augmenting its value. The current market decline, however, has resulted in a continued low price for Shiba Inus. The Shiba Inu development team continues to remove a significant quantity of tokens from circulation, as evidenced by a burn rate increase of 193% per week and nearly 500% over the last twenty-four hours, according to available data. As a consequence, in excess of 774 million SHIB assets have been rendered useless.

 

The overarching objective of this program is to reduce the substantial supply of the coin, thereby increasing its scarcity and, conceivably, its future value. The burn rate experienced a substantial surge of 50,000% in April, while the quantity of tokens withdrawn from circulation in March surpassed 15.5 billion, reflecting a 2,300% growth in comparison to February. Notwithstanding these endeavors, the price of Shiba Inus has decreased by 8% over the past twenty-four hours and 25% on a weekly basis, as reported by CoinGecko. This decrease is consistent with a more extensive market downturn, as evidenced by the declining values of Bitcoin, Ethereum, Solana, Dogecoin, and various other cryptocurrencies.

 

The development of Shibarium, a layer-2 scaling solution, is an additional element that may profitably impact the future value of SHIB. In recent times, this network has experienced a notable resurgence, as evidenced by a surge in daily transactions and active accounts. Shibarium, which was unveiled last summer, endeavors to foster the growth of the meme coin through the reduction of transaction fees, acceleration, and scalability. Shibarium has achieved a number of significant milestones in recent months, including the completion of 400 million transactions and the completion of over 4 million blocks on the network.

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free