Jakarta, Pintu News – In the past 24 hours, the Shiba Inu (SHIB) burn rate has experienced a significant decline of 88.07%. This is happening as traders await important developments in the upcoming financial markets.
According to data from Shibburn, only 4,103,799 SHIBs were burned yesterday, much lower compared to 34,397,753 SHIBs the previous day. This drop marks one of the critical moments for the future of this crypto.
Crypto markets showed slight gains at the start of the week, in line with gains in Asian stock markets. This comes ahead of a series of decisions from central banks, including the Federal Reserve meeting which is expected to cut interest rates by 25 basis points.
The Federal Reserve’s policy decision is scheduled for December 10, followed by the Bank of England’s decision on December 18 and the Bank of Japan on December 19. The market has priced in the possibility of a rate cut by the Fed, with a chance of around 87% for a 25 basis point cut.
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On December 5, 24/7 trading for all monthly altcoin futures was launched on Coinbase Derivatives, including Shiba Inu (SHIB). This allows for non-stop access to these crypto assets. Not stopping there, Coinbase plans to expand support for Shiba Inu in the derivatives market. US Perpetual-style futures for Shiba Inu are scheduled to be launched on December 18, taking trading of this crypto to new heights.
Although the crypto market is showing gains, market sentiment remains cautious with the potential for further declines in the absence of new catalysts and liquidity. With policy updates from central banks and expansion in the derivatives market, the future of the Shiba Inu looks to be full of interesting dynamics. Market participants and crypto enthusiasts will certainly continue to monitor these developments.
Also Read: December on Fire: SHIB, XRP, BTC Price Outlook, Ready for 2025 Year-End Rally?
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
A1: Shiba Inu’s burn rate has decreased by 88.07% in the past 24 hours.
A2: The Federal Reserve’s policy decision is scheduled on December 10.
A3: The market expects the Federal Reserve to cut interest rates by 25 basis points at the last meeting of the year.
A4: The US Perpetual style Futures for Shiba Inu is scheduled to be launched on December 18th.
A5: The decrease in SHIB burning rate has led to a reduction in the total supply of Shiba Inu, which now totals 589,246,109,943,196 SHIB.
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