Shiba Inu Burning is the Major Factor Triggering Its Price! But for How Long?

Shiba Inu burning strategy has triggered the burning of other cryptocurrencies in 2022 significantly

When Shiba Inu was introduced to the highly volatile cryptocurrency market, crypto investors recognized this cryptocurrency as the meme coin. Shiba Inu was underestimated by the community to recognize as a valid and functioning cryptocurrency for crypto wallets. But Shiba Inu showed its power with a dramatic rise in the cryptocurrency price in 2021 and earned the attention of crypto investors across the world. It is successfully overtaking some popular cryptocurrencies through its Shiba Inu burning strategy. Let's explore more about Shiba Inu burning and how long it can be used to survive in the highly volatile cryptocurrency market and drive profits into crypto wallets.

Shiba Inu entered the long list of cryptocurrencies in 2020 amidst the COVID-19 pandemic. It was not popular at the beginning but claimed its name and reputation through multiple strategies to be in crypto wallets efficiently. The rate of growth was fantastic, especially through the implementation of the Shiba Inu burning or Shibburn strategy by the existing crypto investors.

Shiba Inu burning has increased its price in 2021 as well as in 2022 with the calculation from three special addresses, tokens to the Genesis address, and two dead wallets. It has been reported that Shibburn strategy has successfully burnt more than 7.2 billion tokens in two months of 2021. The tokens are removed from circulation permanently for the increase in demand by reducing the supply in the market.

Crypto investors started gaining interest in this cryptocurrency price after it burnt almost half a quadrillion cryptocurrency out of the supply from the cryptocurrency market. After many ups and downs in the cryptocurrency price since August 2021, the rising bullishness in March 2022 has again gained the attention of investments in crypto wallets. The Shiba Inu burning has surpassed a significant milestone 4.4 billion tokens for gaining more bullishness from highly-interested crypto investors. This ongoing Shiba Inu burning strategy can increase the cryptocurrency price in the nearby future with a constant value in the top cryptocurrency list.

The current cryptocurrency price is US$0.00002624 with a market capitalization of US$14.41 billion. The driving force of this crypto investor community-led burning initiative is non-related and unofficial Shiba Inu tokens ETH SHIBA and 1CENT. They also organized a burn party to increase the cryptocurrency prices efficiently and effectively. It has been speculated that ShibaSwap 2.0 is set to support a new burning mechanism for this Shiba Inu burning strategy. This can skyrocket the cryptocurrency price to the next-level in the cryptocurrency market to keep the expectations of crypto investors for profit in crypto wallets. The official launch date of the ShibaSwap 2.0 is not announced yet. But the speculation is that the entry to the cryptocurrency market will be by the first half of 2022 with the Shiba Inu burning strategy. Thus, it can be said that crypto investors can expect an increase in the cryptocurrency price for a long period of time.

There is a piece of good news for crypto investors who invest in this cryptocurrency that the token burning strategy will continue in the nearby future. The creators of this cryptocurrency are focused on making the burn rate grow with the utilization rate of the platform. Crypto investors can get access to around 550 trillion coins in the cryptocurrency market.

Shiba Inu burning is also assisted by different catalysts such as gaming capabilities, increase in number of online exchanges, and many more. Since this is a highly volatile and risky venture with constant fluctuations in a cryptocurrency price, crypto investors must not think that this cryptocurrency will never experience a major drop in its price owing to this Shiba Inu burning strategy.