Shiba Inu Kills A Zero From Valuation With 10% Daily Gain: Shiba Inu ETF On The Cards?
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) experienced a 10.7% increase in price, erasing a zero from its valuation, amid a community petition for a Shiba Inu ETF. The burn rate surged by 4,290.02%, with 70% of tokens burnt from the total supply. A major whale transaction involved receiving 293.98 billion SHIB tokens. Derivatives metrics show a significant surge in volume and open interest. A proposal for a Shiba Inu ETF was revealed by the marketing lead, aiming to assess its viability and market demand.
February 27, 2024 | 3:14 pm
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Shiba Inu (SHIB) saw a 10.7% price increase and a significant burn rate surge, alongside a major whale transaction and a proposal for a Shiba Inu ETF.
The price surge, combined with the high burn rate and the whale transaction, indicates strong market activity and investor interest. The proposal for a Shiba Inu ETF, if realized, could significantly increase demand and visibility for SHIB, potentially leading to further price increases in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100