'Dogecoin Killer' Shiba Inu Burn Rate Catapults 65,530% Higher: Here's What Technical Analysis Says
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has seen a significant increase in its burn rate by 65,530%, with technical indicators suggesting a potential price pump. The cryptocurrency has gained 18% over the past month, supported by a bullish shift in Bitcoin prices. Technical analysis indicates a mildly bullish outlook with the 50-day SMA crossing above the 100-day SMA.
October 25, 2024 | 11:44 am
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Shiba Inu's burn rate has increased by 65,530%, and technical indicators suggest a potential price pump. The cryptocurrency has gained 18% over the past month, supported by a bullish shift in Bitcoin prices.
The significant increase in Shiba Inu's burn rate and the crossing of the 50-day SMA above the 100-day SMA indicate bullish momentum. The 18% monthly gain aligns with a broader bullish trend in altcoins driven by Bitcoin's price increase.
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