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April 9th was a remarkable day for $SHIB holders! 1.1 Billion $Shib were burned in a single transaction and was confirmed by the official Twitter handle of Shiba Inu! What does this mean for $SHIB holders? Will this burn set fire and skyrocket the potential of upcoming projects like Signuptoken.com? Read on to find out!
We all know about the demand and supply graph, don't we? By reducing the supply while keeping the demand at the same level, you get to elevate the price of the asset.
This is the logic behind the burn of $SHIB. 1.1 Billion Shiba Inu tokens, according to the current rate, are worth approximately $1.7M. A huge sum of money was wiped off just with a few clicks! This burn was monumental, as the standard burn volume of the industry is 100 million tokens.
Crypto sages believe that the Shiba Inu burn was a move to strengthen the crypto's value proposition. However, post-burn, the price of $SHIB tokens was still in the red as the overall market sentiment is still recovering from pessimism to optimism. Moreover, major cryptos like Bitcoin and Ether are quite volatile these days. Consequently, risk-averse investors are keeping an arm's distance from any crypto that shows the potential for fluctuation.
Moreover, Elon Musk has recently replaced the mascot of Twitter with that of Shiba Inu. This caused the price of $SHIB to increase by 36%. However, the price of the coin slid back down as the overall sentiment of the crypto market still stands on shaky grounds. Nonetheless, as the crypto market continues to gain more love from people worldwide, things may smoothen out for $SHIB pretty soon!
The spotlight is on $SHIB these days, not only because of the burn but also because of the $258 billion lawsuit against Elon alleging price manipulation of the cryptocurrency.
This increase in attention will ultimately lead to the soaring of promising projects like Signuptoken.com, which are already making their mark in the industry.
Signuptoken.com has claimed to make a million millionaires through their project and hence, has caught the attention of many. Moreover, given the fact that their presale does not require you to commit any money, people are flocking in to be a part of this new project.
With Signuptoken.com, you can enter the DeFi ecosystem with just your email address and get early notifications about their token launch. Based on the ERC-20 standard by Ethereum, the tokens launched by signuptoken.com are quite secure and seamless to use. However, to increase the ease of usage, the project also plans to launch its own Uniswap Exchange.
The project is growing at a steady speed and has already garnered support from over 3,200 people around the world. Given the rapid growth of signuptoken.com, the attention that Shiba Inu has drawn to the crypto market can significantly help to boost the potential of this upcoming project.
Website: https://www.signuptoken.com
Twitter: https://twitter.com/_SignUpToken_
Telegram: https://t.me/SignUpToken
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
