The Shiba Inu burning rate rises 107%, stuck in whale transactions: what’s going on?

Shiba Inu SHIB / USD gaining ground with the increase in burning rates increase and whale activity, which encourages caution optimism among traders Key support levels.

Trader notes: Basic crypto reports This shib oscillates around its crucial level of support at $ 0.0000147.

The news supplier cited analyst Paul Endeo according to which the maintenance of this level could lead to a rebound of 20% to 0.00001718.

If Shib does not hold the support, it could see a drop of 11% to $ 0.00001261, making it a critical moment for the price management.

Statistics: Shibburn data show that 2.14 million sampon parts have been burned in the past 24 hours, with burning rates increasing by 107.5%. In the past seven days, 125.96 million pieces of shibre have been removed from traffic.

Crypto basic data highlighted that more Shiba Inu investors are in profit with February 2024.

Despite the 20%decrease of SHIB in last month, the number of profitable portfolios increased from 469,650 (35.15%) in February to 553,400 (38.65%).

Shibariumscan data indicate that daily transactions are in difficulty at 61,780, a sharp drop compared to the coherent brand of 4 million observed in previous months.

Intotheblock data show that the volume of Shiba Inu transactions and daily active addresses increased by 30.9% and 6.5%, respectively in one day. Transactions greater than $ 100,000 are up 98 to 101.

With recent declines in the price of the memes piece, around 58% of Shibs holders are underwater.

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