'Dogecoin Killer' Shiba Inu Rallies 10%: What Is Going On?
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has surged 10% to $0.0000175, outperforming Dogecoin, due to positive macro data. The meme coin has gained over 30% in the past 30 days. Renewed burn transactions and predictions of a 351% spike are fueling optimism. However, large transaction volumes have decreased.
October 04, 2024 | 6:37 pm
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Shiba Inu (SHIB) has seen a 10% price increase, outperforming Dogecoin, with a 30% gain over the past month. Renewed burn transactions and predictions of a 351% spike are driving optimism, despite a decrease in large transaction volumes.
The 10% price increase and outperforming Dogecoin indicate strong market interest. Renewed burn transactions and predictions of a significant price spike suggest potential for further gains. However, the decrease in large transaction volumes could temper short-term enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100