'Dogecoin Killer' Shiba Inu Has Not Burned Tokens In 2 Days: What Is Going On?
Portfolio Pulse from Khyathi Dalal
Shiba Inu's (SHIB) burn rate has dropped by 45% in the last two days, causing concern among traders. Despite this, the Shiba community launched ShibHub, an app to enhance the Shiba ecosystem. Technical indicators show mixed signals, with RSI close to bearish levels but potential bullish momentum if certain moving averages cross.
August 15, 2024 | 1:07 pm
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Shiba Inu's burn rate has decreased by 45% in the last two days, raising concerns among traders. However, the launch of ShibHub and increasing transaction volumes provide some positive outlook. Technical indicators are mixed, with RSI near bearish levels but potential bullish momentum if certain moving averages cross.
The significant drop in burn rate is a negative signal, but the launch of ShibHub and increasing transaction volumes provide a counterbalance. Technical indicators are mixed, suggesting a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100