Shiba Inu, a canine-themed meme coin, has recently reduced its token supply as part of a deflationary process.
The popular meme coin burned 51.5 million tokens, valued at approximately $1,030.45. Compared to Shiba Inu’s $12.9 billion market cap, this token burn has negligible impact. While token burning aims to reduce cryptocurrency supply and increase value, this small burn is unlikely to affect Shiba Inu’s price significantly.
Shiba Inu (SHIB) has experienced a decline of around 12% over the past week. Despite this short-term drop, the coin boasts an almost 20% increase over the past three months.
The nearest resistance level for SHIB is at 0.00006242. Breaking above this could signal a bullish trend and possibly lead to testing the second resistance at 0.00009974.
Technical indicators present a mixed outlook. The 10-day simple moving average stands at $0.00002001, slightly below the 100-day average of $0.00002067, hinting at short-term bearish sentiment. The Relative Strength Index (RSI) is at 42.67, suggesting SHIB is nearing oversold territory but hasn’t reached it yet. The stochastic oscillator is at 30.67, also indicating a potential oversold condition. SHIB could experience exponential growth if it surpasses its previous all-time high of $0.000090.
Meanwhile, XYZVerse’s presale phase has exceeded expectations, quickly surpassing the $5.5 million goal.
XYZVerse Hits $5.5 Million Mark in Presale Funding
XYZVerse has distinguished itself as a unique project, merging the excitement of sports with the lighthearted nature of meme coins. Developed for fans of football, basketball, MMA, and esports, XYZVerse presents a novel concept to the cryptocurrency landscape, uniting sports enthusiasts and crypto investors in the search for the next promising opportunity.
In an environment where numerous meme coins are short-lived, XYZVerse differentiates itself through a strong roadmap and a vision for sustained expansion.
XYZVerse is pursuing a bold goal of becoming the G.O.A.T. of meme coins. And they’re already making moves, having scored the title of Best New Meme Project.
The project is currently in its presale phase and has already secured over $5.5 million of initial funding, indicating substantial interest from the crypto community.
The presale comprises 15 stages, with the price of $XYZ increasing incrementally in each stage.
Currently, in stage 10, the token is valued at $0.002, and by the conclusion of the presale, the price will have risen to $0.1.
Buying $XYZ Early Means Getting a Bigger Discount
XYZverse has a long-term vision, supported by a sustainable tokenomics model. The project allocates 15% for liquidity and 10% for community rewards, including bonuses and airdrops. Additionally, a deflationary burn mechanism will gradually remove 17.13% of tokens from circulation, potentially increasing the value of the remaining tokens.
Security and credibility are also priorities for XYZverse. The project’s roadmap includes listings on major centralized and decentralized exchanges (CEX and DEX). These listings, combined with audited smart contracts and a fully vetted team, position XYZverse for sustainable growth. $XYZ presents a compelling opportunity for early investors seeking a community-driven token with significant potential.
You can find more information about XYZVerse (XYZ) here:
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