Shiba Inu Continues to Attract Positive Sentiment Despite Flat Performance
Shiba Inu (CRYPTO: SHIB) has been gaining bullish sentiment despite showing relatively flat performance throughout the week. Data from IntoTheBlock suggests an increase in whale transactions and significant trading volumes for the popular dog-themed meme coin. A spike of 3,220% in large holder net flows indicates that whales are actively either accumulating or selling the token, with large transactions exceeding ,000 totaling 9.94 trillion SHIB in the past 24 hours.
Shibburn data also revealed a substantial surge of 427.55% in the burn rate earlier in the day, with 15.5 million tokens being burned. Although the burn rate saw a notable increase after a period of stagnation, it has currently decreased by 60%.
In efforts to boost Shiba Inu’s popularity, cryptocurrency exchange CryptoCom has included SHIB in its mobile app title and plans to promote it through platforms like the Google Play Store and Apple’s App Store. The exchange officially listed Shiba Inu in 2022.
The increased attention towards Shiba Inu is evident in its monthly gains of 224.4%, surpassing the rise of Dogecoin. Despite a slight 2.5% dip in the past 24 hours, trading volumes have surged by 102.3%, reflecting significant interest from traders and investors.
Google Trends search data showed a spike in interest for Shiba Inu, reaching a score of 68 in the early morning hours. Additionally, Kaiko data revealed Shiba Inu’s substantial trading volume of billion last week, surpassing Dogecoin’s volume of billion. The weekly trade volume peaked at around billion, representing a multi-year high.
Crypto analyst Javon Marks highlighted Shiba Inu’s impressive 531% surge and suggested the potential for further growth. He predicts that a break and hold above [or_text model=”openai/gpt-3.5-turbo” prompt=”You are a news editor expand and Rewrite the following article, remove references to the source, make sure the generated article is well written, makes sense and is SEO enabled:
Shiba Inu (CRYPTO: SHIB) has been garnering bullish sentiment despite its relatively flat performance over the week.
According to U Today, data from IntoTheBlock indicates an uptick in whale transactions and significant trading volumes for the dog-themed meme coin. A notable spike of 3,220% in large holder net flows suggests that whales are either accumulating or selling the token. Over the past 24 hours, large transactions exceeding $10,000 amounted to 9.94 trillion SHIB.
Shibburn data revealed a surge of 427.55% in the burn rate earlier in the day, with 15.5 million tokens destroyed. Although the burn rate saw a notable increase after a considerable period, it is currently down by 60%.
In a bid to bolster Shiba Inu’s popularity, cryptocurrency exchange CryptoCom has modified its mobile app title to include SHIB and aims to promote it through platforms like the Google Play Store and Apple’s App Store. The exchange officially listed Shiba Inu in 2022.
The increased attention towards Shiba Inu is reflected in its monthly gains of 224.4%, surpassing the 100% rise of Dogecoin. Despite a 2.5% dip in the past 24 hours, trading volumes surged by 102.3%, indicating significant interest from traders and investors.
Google Trends search data revealed a spike in interest for Shiba Inu, reaching a score of 68 in the early morning hours. Additionally, Kaiko data showcased Shiba Inu’s substantial trading volume of $31 billion last week, surpassing Dogecoin’s volume of $23 billion. The weekly trade volume peaked at around $80 billion, marking a multi-year high.
Crypto analyst Javon Marks highlighted Shiba Inu’s impressive 531% surge, suggesting the potential for further growth. He predicts that a break and hold above $0.00008 could lead to a +90% upside to $0.0001553.
Overall, despite fluctuations in performance, analysts remain optimistic about Shiba Inu’s prospects alongside other meme coins like Dogecoin.
Related
“].00008 could lead to a +90% upside to [or_text model=”openai/gpt-3.5-turbo” prompt=”You are a news editor expand and Rewrite the following article, remove references to the source, make sure the generated article is well written, makes sense and is SEO enabled:
Shiba Inu (CRYPTO: SHIB) has been garnering bullish sentiment despite its relatively flat performance over the week.
According to U Today, data from IntoTheBlock indicates an uptick in whale transactions and significant trading volumes for the dog-themed meme coin. A notable spike of 3,220% in large holder net flows suggests that whales are either accumulating or selling the token. Over the past 24 hours, large transactions exceeding $10,000 amounted to 9.94 trillion SHIB.
Shibburn data revealed a surge of 427.55% in the burn rate earlier in the day, with 15.5 million tokens destroyed. Although the burn rate saw a notable increase after a considerable period, it is currently down by 60%.
In a bid to bolster Shiba Inu’s popularity, cryptocurrency exchange CryptoCom has modified its mobile app title to include SHIB and aims to promote it through platforms like the Google Play Store and Apple’s App Store. The exchange officially listed Shiba Inu in 2022.
The increased attention towards Shiba Inu is reflected in its monthly gains of 224.4%, surpassing the 100% rise of Dogecoin. Despite a 2.5% dip in the past 24 hours, trading volumes surged by 102.3%, indicating significant interest from traders and investors.
Google Trends search data revealed a spike in interest for Shiba Inu, reaching a score of 68 in the early morning hours. Additionally, Kaiko data showcased Shiba Inu’s substantial trading volume of $31 billion last week, surpassing Dogecoin’s volume of $23 billion. The weekly trade volume peaked at around $80 billion, marking a multi-year high.
Crypto analyst Javon Marks highlighted Shiba Inu’s impressive 531% surge, suggesting the potential for further growth. He predicts that a break and hold above $0.00008 could lead to a +90% upside to $0.0001553.
Overall, despite fluctuations in performance, analysts remain optimistic about Shiba Inu’s prospects alongside other meme coins like Dogecoin.
Related
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Despite fluctuations in performance, analysts remain optimistic about Shiba Inu’s prospects when compared to other meme coins like Dogecoin.
