🔵 #Can BTC Break $110K?#
Bitcoin recently broke above $107,000 and is currently trading around $105,000, just shy of its all-time high at $109,580. Do you think Bitcoin can set a new record and push past $110,000? Share your analysis and predictions with us!
🔵 #AI Token Market Cap Rebounds#
According to CoinGecko, the total market cap of the AI agent sector has rebounded to $6.862 billion, with a 1.2% increase in the past 24 hours. Notably, VIRTUAL surged 18.5%, and AI16Z rose 7.1%. Which AI tokens are you bullish on? How are you planning your portfolio strategy? Let’s hear your thoughts!
Shiba Inu (SHIB) Volume in Red as Daily Burn Rate Returns to Lows
Data from the on-chain tracking platform, Shibburn, shows that only 320,814 SHIB tokens have been destroyed today.
SHIB Burn Rate Up by only 32%
While SHIB investors have remained optimistic about the token’s short-term potential, the significantly low burns witnessed over the last day have triggered concerns in the market.
With SHIB’s daily burn rate up by only 32%, the token has seen only 320,814 SHIB tokens sent to dead or unspendable wallets. This marks a significant decline in SHIB’s community-led burn activity, as the token is renowned for consistently burning millions of tokens daily, sometimes billions
The token has barely seen this low token burn in recent days.
Although the reason behind SHIB’s low burn activity remains uncertain, there are speculations that SHIB investors might have relented in their demand for the token, leaving the team with no reason to boost scarcity.
Moreover, the low burn rate could also be traced to several other factors like broader market skepticism and the surging desire among holders to prepare for a possible price surge by HODLing rather than burning.
SHIB Volume Down as Price Stabilizes
Nonetheless, the price of SHIB has responded to the poor burn activity with stable price movements despite the broad market rally experienced today.
According to the latest data from CoinMarketCap, SHIB has shown resilience in its price movement today, recording a decent 0.25% surge in price over the last day. As such, the token is trading at $0.001264 as of press time.
This suggests that SHIB’s small and large traders have been relatively dormant over the last day, suggesting a decrease in the demand for SHIB token as market skepticism heightens following recurring price slumps.
There are also chances of a bullish outlook for SHIB as the broader crypto market returned to the green zone since the past two days. Hence, expectations of a bullish surge in altcoins have triggered a breakout watch for SHIB among optimistic investors.