'Dogecoin Killer' Shiba Inu Burn Rate Explodes 254,078% Higher And One Indicator Shows A 90% Rally Could Be Coming
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has experienced a massive 254,078% increase in its burn rate, with 5.6 billion tokens burned in a single transaction. This has been accompanied by a rise in daily transactions and a potential bullish flag formation indicating an 80%-90% rally. However, caution is advised as large burns may be promotional tactics.
November 01, 2024 | 11:40 am
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Shiba Inu's burn rate has surged by 254,078%, with significant token burns and a potential bullish flag formation suggesting an 80%-90% rally. However, caution is advised as these burns may be promotional tactics.
The massive increase in burn rate and the technical analysis suggesting a bullish flag formation indicate a potential price rally. However, the warning about promotional tactics tempers the optimism, suggesting investors should be cautious.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100