'Dogecoin Killer' Shiba Inu Daily Transactions Surge To 2.4M, SHIB Only 1.8% Off From Erasing A Zero
Portfolio Pulse from Khyathi Dalal
'Dogecoin killer' Shiba Inu (SHIB) sees a surge in daily transactions to 2.4M and is close to increasing its value significantly. The SHIB ecosystem is expanding with new NFT projects like Sheboshis, a metaverse project, a play-to-earn game, a decentralized exchange, and an L2 blockchain. A strategy to burn 10% of proceeds from the new NFT project aims to enhance ecosystem value. Daily transactions and active accounts have increased, with SHIB's price up 8% over the past month.
February 19, 2024 | 7:42 pm
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POSITIVE IMPACT
Shiba Inu (SHIB) experiences a significant increase in daily transactions and is on the verge of a major price increase. The ecosystem's expansion and new NFT project are likely to positively impact its value.
The increase in daily transactions and active accounts, along with the introduction of new NFT projects and ecosystem expansions, indicate a growing interest and investment in SHIB. The strategy to burn 10% of NFT proceeds is likely to reduce supply and potentially increase the token's value, contributing to a positive short-term price impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100