Altcoins To Buy To Achieve $1 Million Portfolio In 2024
Shiba Inu (SHIB)
Shiba Inu (SHIB) originated as a meme token, often regarded as a Dogecoin competitor.
It has grown into a decentralized ecosystem with its decentralized exchange, ShibaSwap, and has plans to expand into NFTs and game development.
Amid the recent market consolidation, the SHIB price recovery witnessed a notable downturn from the $0.0000328 resistance in late March. The bearish reversal plunged the coin value by 21.5% in the last six days.
By the press time, Shiba Inu’s market cap stands at $15.29 Billion, while the trading volume is around $15.92 since yesterday.
According to the recent data by Shibburn, the memecoin has seen a dramatic increase in its burn rate, soaring to 2307.19% over the last 24 hours.
During this period, a massive total of 110,384,799 SHIB tokens were removed from circulation.
However, if the supply pressure from broader markets persists, the Shiba Inu price will retest the 61.8% FIB level at $0.00002368.
