Is Shibu Inu Set To Skyrocket? Social Buzz And Token Burns Fuel Speculation
Portfolio Pulse from Bibhu Pattnaik
Shiba Inu (CRYPTO: SHIB) is showing signs of a potential price surge, driven by increased social engagement, token withdrawal patterns, and a high LunarCrush AltRank. Key indicators include a significant outflow of SHIB tokens from exchanges, a 61.02% increase in token burn rate, and the development of its Shibarium layer-2 solution. SHIB's price has risen by almost 6% in the last 24 hours.
April 07, 2024 | 4:40 pm
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Shiba Inu (SHIB) shows potential for a price surge due to increased social activity, a high LunarCrush AltRank, significant token burns, and Shibarium development.
The combination of increased social engagement, a high LunarCrush AltRank, and significant token burns indicate a strong bullish sentiment for SHIB. The development of Shibarium and the shift towards self-custody by investors further support this optimism, potentially leading to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100