Shiba Inu Burn Rate Surges as Akai Token Makes Bold Move
Shiba Inu (SHIB) has experienced a significant increase in its burn rate, resulting in a price pump, thanks to a calculated maneuver by Akai Token ($AKAI). In just 24 hours, Akai Token transferred 804 million tokens to an inactive wallet, leading to an 8,900% surge in the burn rate.
Key Points:
- Akai Token’s transfer of 804 million tokens to an inactive wallet caused a surge in Shiba Inu’s burn rate.
- Shiba Inu broke above a descending channel, providing bullish opportunities for traders.
- The price of Shiba Inu is currently trading below moving averages but shows potential for upward movement.
- Ecoterra, a green crypto ecosystem, concluded its presale funding and is set to be listed on exchanges.
- Ecoterra’s $ECOTERRA token offers various functionalities and potential for significant growth.
Shiba Inu Breaks Above Descending Channel, Creating Bullish Opportunities
After a period of lower lows and lower highs, Shiba Inu has finally broken above a descending channel, providing bullish opportunities for traders. The formation of a double-bottom pattern along the channel’s lower trendline allowed for an upward push of the price. Additionally, the price has reached the channel’s upper trendline, forming a triple top pattern, which signals a potential entry point for buyers.
Shiba Inu Bulls Push Price Along an Up Trendline
Bullish momentum is currently pushing the price of Shiba Inu along a short upper trendline. This movement indicates a potential minor double-bottom pattern, which could lead to further price increases. The price is currently trading below moving averages, but there is an opportunity for buyers to drive it above the 50-day moving average. The relative strength index (RSI) suggests a neutral stance, creating the potential for significant price spikes.
Ecoterra Concludes Presale Funding, Anticipation Builds for Token Listing
Ecoterra, a groundbreaking crypto ecosystem, has successfully concluded its presale funding, raising over $6.2 million. The project aims to incentivize and reward users for eco-friendly actions. The $ECOTERRA token will be listed on LBank and BitMart, offering new opportunities for investors to support the project’s environmentally focused mission. Market analysts predict significant upside potential for $ECOTERRA once it lists on exchanges.
Hot Take: Shiba Inu and Ecoterra Present Exciting Opportunities for Crypto Investors
Shiba Inu’s burn rate surge and breakout from a descending channel indicate potential bullish opportunities for traders. Meanwhile, Ecoterra’s presale success and upcoming token listing offer a chance to support a green crypto ecosystem with the potential for significant growth. Both projects present exciting prospects for crypto investors looking to diversify their portfolios.
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