Shiba Inu Metrics Resurgence 🚀
Despite a recent 7% price correction, Shiba Inu is seeing a revival in key ecosystem metrics:
- The burn rate has surged by 450% in the past 24 hours, with nearly 50 million tokens sent to a null address.
- Over 41% of SHIB’s total supply has been destroyed, reducing circulating supply and potentially driving up value.
- Whale activity has increased, with daily transaction volumes nearing $900 million, a significant rise compared to July 18.
- Shibarium metrics such as active accounts, new transactions, and verified contract growth are on the rise.
- Layer-2 solution Shibarium, launched less than a year ago, aims to enhance the development of Shiba Inu by reducing costs, improving speed, and scalability.
Shiba Inu’s Success Over the Past Year 📈
Despite recent valuation fluctuations, Shiba Inu remains in the green on a weekly scale and has seen a remarkable 125% price increase in the past year:
- Currently, 52% of SHIB holders are seeing gains, a significant improvement from September 2023 when 90% were in the red.
- Analysts anticipate further price growth, with predictions of triple-digit increases if critical resistance levels are surpassed.
- Previous predictions indicated a potential surge if SHIB could surpass key levels, which it briefly achieved in May.
Hot Take 🔥
As Shiba Inu continues to show promising metrics and price growth, the future looks optimistic for this meme-based cryptocurrency. Stay tuned for further developments as the market dynamics evolve.
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