What's Going On With 'Dogecoin Killer' Shiba Inu?
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has seen a 234% surge in burn rate over the past 24 hours, with one transaction burning 1.06 million SHIB. Despite a 6% drop in price, traders remain optimistic, predicting a bullish breakout. Large transaction volumes and daily active addresses have decreased, but transactions over $100,000 have increased.
August 07, 2024 | 7:21 pm
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Shiba Inu (SHIB) has seen a significant increase in burn rate, but its price has dropped by 6% in the past 24 hours. Despite this, traders are optimistic about a bullish breakout.
The significant increase in burn rate and traders' optimism about a bullish breakout could lead to a positive short-term impact on SHIB's price, despite the recent drop.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100