Shiba Inu Burns 100M Tokens In Single Transaction: 'Another 120% Move From Here,' Predicts Trader
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has seen a 1.7% increase in the past 24 hours, maintaining its top 10 market cap position. Lead developer Shytoshi Kusama hinted at upcoming Shiba Inu-themed services. A significant token burn of 177 million tokens, including a single transaction of 100.5 million tokens, coincides with the coin's price recovery. Technical analyst Javon Marks predicts a potential 120% price increase for SHIB. Increased transactions over $100,000 and new account registrations on Shibarium Scan suggest growing investor interest.
March 06, 2024 | 10:13 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Shiba Inu (SHIB) has experienced a 1.7% increase and a significant token burn event, with predictions of a further 120% price increase.
The recent 1.7% increase in SHIB's price, combined with significant token burns and the anticipation of new Shiba Inu-themed services, suggests a positive short-term impact. Analyst predictions of a further 120% increase in price, alongside growing investor interest as evidenced by increased transactions and new account registrations, further support a bullish outlook for SHIB in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100