Shiba Inu SHIB/USD has gained momentum in recent days, supported by a significant increase in its burn rate and a steady increase in transactions with whales.
| Cryptocurrency | Price | Market capitalization | 24 hour trend | 7-day trend |
| Shiba Inu SHIB/USD | $0.00003011 | $17.7 billion | -5.5% | +16.5% |
| Dogecoin DOGE/USD | $0.4277 | $63.2 billion | -3.6% | +3.8% |
| Pepe PEPE/USD | $0.00002115 | $8.9 billion | -4.3% | +4.8% |
Trader Notes: Traders are optimistic about SHIB’s trajectory. Bluntz Capital tweeted that a “God candle is charging” for Shiba Inu, signaling a potential significant price rise.
Likewise, the asymmetry of the guru note that SHIB is “primed” for a bullish move, while Trading Benjamins suggested that a break above resistance levels could trigger a rapid rally. KNIGHT SHIB see an uptrend is forming, with a target price above $0.00004.
Statistics: Shibburn data shows its burn rate has soared 208.5% in the past 24 hours, with 53.4 million coins removed from circulation in a single transaction around nine hours ago.
Shibariumscan reports steady growth in daily transactions on the Shibarium network, reaching 4.76 million from 4.43 million on November 5. Data from DefiLlama shows Shibarium’s total value locked (TVL) reaching a record $5.82 million.
IntoTheBlock data shows significant transaction volume down 5% and daily active addresses growing 16%. Transactions over $100,000 increased from 910 to 966 in a single day. Around 72% of SHIB holders are in profit while 9% are at break-even point.
And then: Shiba Inu’s ongoing token burns and increasing on-chain activity are reducing supply and strengthening its bullish outlook. Coupled with increasing adoption and whale activity, SHIB appears well-positioned for another important rally.
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