Shiba Inu Circulating Supply Stagnant Since June 2022: What's Going On?
Is the circulating supply of Shiba Inu really unchanged since June 2022? Many Shiba Inu investors are asking this very question. While the price of SHIB has fluctuated, understanding the coin's circulating supply is crucial for assessing its future potential. View live Shiba Inu: The amount of coins (tokens) that are publicly available and circulating in the market chart to track latest price changes. Trade ideas, forecasts and market news are at your fingertips, but the story is more complex than a simple chart reveals.
Analyzing Shiba Inu's Circulating Supply
Provides data on the supply of SHIBA INU, such as changes in supply, distribution of profit/loss, and velocity of circulation. Understanding these factors provides a more comprehensive understanding of SHIB's tokenomics. It's important to look beyond just the overall number and consider how the tokens are distributed and how frequently they are being traded.
Burn Rate Increase and its Impact
According to CryptoPotato, Shiba Inu, the second-largest memecoin by market capitalization, has experienced a significant increase in its burn rate. Theoretically, this could eventually impact the circulating supply. However, the effects of burns can take time to become noticeable, and other factors can offset these changes. The effectiveness of the burn mechanism is also often debated within the SHIB community.
Historical Context: Circulating Supply Fluctuations
OG circulating supply was 395 trillion and creators added another 150 trillion after it spiked a few months ago dropping price down again, leaving bag holders and those in the know were able to anticipate the price movement. These initial adjustments to the supply highlights the impact that significant changes in circulating supply can have on price and investor sentiment. Understanding this history helps to put the current situation in perspective.
Price vs. Circulating Supply: A Closer Look
In actual fact, on the circulating market cap chart, the drop [blue] is strictly in tandem with the worth [white], re-justifying that the worth has a extra commanding function in determining market cap. While circulating supply is a factor, other elements play a bigger role in price movement.
Network Activity and Address Growth
Previously, the network saw less than 1,000 new addresses created per day, but this has since changed. In June, the network activity surged to over 3,000 addresses per day, with some days exceeding that number. Even with increased address activity, the circulating supply has seen minimal change. This suggests increased interest in holding the coin rather than trading, or potentially users accumulating coins in expectation of future price gains.
Conclusion: Monitoring Shiba Inu's Circulating Supply
While the Shiba Inu circulating supply may appear stagnant since June 2022, it's important to monitor burn rates, network activity, and overall market dynamics. While changes might be gradual, these factors can ultimately influence the long-term value and scarcity of Shiba Inu.