'Dogecoin Killer' Shiba Inu Burn Rate Spikes 1,442%, Trader Predicts Price 'Potentially Doubling Or Even Tripling'
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has seen a significant increase in its burn rate, with a 1,441.7% spike in the past 24 hours. Traders are bullish, predicting potential price doubling or tripling. Key data points include a rise in transactions and new verified contracts, as well as increased large transactions and active addresses.
June 03, 2024 | 7:32 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Shiba Inu (SHIB) has experienced a 1,441.7% increase in its burn rate over the past 24 hours, leading to bullish predictions from traders. Key metrics such as transaction volume and new verified contracts have also increased, indicating strong market activity.
The significant increase in the burn rate, along with rising transaction volumes and new verified contracts, suggests strong market activity and bullish sentiment among traders. This is likely to drive the price of SHIB higher in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100