'Dogecoin Killer' Shiba Inu Burn Rate Spikes 1,947% As Marketing Lead Predicts 'Altcoin Season'
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) burn rate has surged by 1,947% in the past 24 hours, removing 60.2 million coins from circulation. This elevated burn rate has made traders bullish on SHIB's price performance. Large transaction volumes have increased by 269%, while daily active addresses have dropped by 17.7%. Shiba Inu's marketing lead predicts a bullish momentum for altcoins.
July 23, 2024 | 7:05 pm
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Shiba Inu's burn rate has surged by 1,947%, removing 60.2 million coins from circulation. This has led to increased bullish sentiment among traders. Large transaction volumes have increased by 269%, while daily active addresses have dropped by 17.7%.
The significant increase in the burn rate reduces the supply of SHIB, which can lead to higher prices if demand remains constant or increases. The rise in large transactions indicates increased interest from big investors, further supporting a bullish outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100