As a crypto investor with some experience under my belt, I’ve learned to pay close attention to trends in the market, especially when it comes to meme cryptocurrencies like Shiba Inu (SHIB). The recent surge in SHIB burns, as reported by the Shibburn tracking platform, has piqued my interest.
Based on information provided by the Shibburn monitoring tool, the burn rate for SHIB, which signifies the amount of tokens being permanently removed from circulation each day, has noticeably increased on a weekly scale, even though it showed a decrease yesterday.
As a researcher, I’ve discovered an impressive growth trend for Shiba Inu, coinciding with predictions of a price rise based on the latest analytics report.
SHIB burns skyrocket 685%
As an analyst, I’ve examined Shibburn’s latest update via their official X handle. The tweet unveiled a significant surge in the Shiba Inu burn rate over the last seven days. Specifically, weekly burns have soared by over 685%. Collectively, the SHIB community has incinerated approximately 399,586,110 meme coins during this period.
As a researcher studying the Shib token’s hourly and daily price movements, I’d like to share some recent updates based on my observations:
— Shibburn (@shibburn) June 15, 2024
According to the tweet, there’s been a significant decrease of approximately 63% in the daily metric. Specifically, 39,878,482 meme coins have been moved to non-functioning blockchain addresses.
SHIB on verge of breakout: analyst
Expert here: Crypto analyst Ali Martinez is convinced that Shiba Inu (SHIB), the second largest meme cryptocurrency by market capitalization, will experience a price recovery soon. He recently shared a daily chart of SHIB on Reddit, highlighting the buy signal generated by the TD Sequential indicator.
Currently, the value of meme cryptocurrency SHIB is being traded at $0.00002076. However, according to Martinez’s analysis, there’s a strong possibility that the price could surge up to $0.00002800 or around that figure. This predicted increase represents approximately a 35% hike in value for SHIB.
As an analyst, I’ve noticed that Shiba Inu (#ShibaInu) could potentially be gearing up for a comeback based on the TD Sequential indicator on its daily chart. This technical analysis tool suggests that a buy signal has been triggered, which might attract investors and contribute to a price increase.
— Ali (@ali_charts) June 15, 2024
Over the past week, I’ve noticed a significant drop in Shiba Inu’s price, which took it down 21.7% from $0.00002530 to $0.00001983 on Friday. However, there has been a small rebound since then, with SHIB currently rising by 4.7%. I’m now seeing the coin being traded at around $0.00002078.
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2024-06-15 23:15