'Dogecoin Killer' Shiba Inu's Daily Transactions Spike 1,082%: 'Still Very Bullish On SHIB,' Says Crypto Investor
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has experienced a significant surge in daily transactions and token burns, indicating bullish sentiment among investors despite a recent price dip. The project's marketing lead announced major upgrades for Shiba Eternity, contributing to a 1,082% increase in daily transactions and a 1,344.1% increase in the burn rate. Large transaction volume also surged by 179.5%, with the price of SHIB up 4.2% week-over-week.
April 09, 2024 | 9:02 pm
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Shiba Inu (SHIB) sees a surge in transactions and token burns, with major upgrades announced for Shiba Eternity, indicating strong investor sentiment.
The significant increase in daily transactions and token burns, along with the announcement of major upgrades for Shiba Eternity, suggests a bullish outlook for SHIB. Despite a recent price dip, the overall week-over-week price increase and positive investor sentiment indicate potential for short-term price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100