Shiba Inu (SHIB) is on a roll, just like many other cryptocurrencies. In the last 24 hours, it’s jumped about 4.4%, and things are looking good for the future.
Burning Up: SHIB Burn Rate Soars
The SHIB burn rate has skyrocketed by a whopping 436% in the last day. This means that millions of SHIB tokens are being permanently removed from circulation, which is a good thing for existing holders. This surge in burning is a strong signal that people are optimistic about SHIB.
Whale Activity Fuels the Rally
Big investors, known as “whales,” are getting excited about SHIB too. They’re making huge trades, and this is driving up the price. In the past week, the volume of SHIB transactions over $100,000 has reached a record high for this quarter. This shows that whales are confident in SHIB’s future.
Will SHIB Hit $0.00002 Again?
SHIB is currently trading at $0.00001886. It’s just a small hop away from reaching $0.00002 again. In fact, it already hit a high of $0.00001967 in the last day.
With all the positive momentum, it’s looking likely that SHIB will break through $0.00002 soon. This would be a big milestone for the meme coin, but it’s still a long way from its all-time high of $0.00003629.
Looking Ahead: Can SHIB Reach New Heights?
If the burning continues and the whales keep buying, SHIB could climb even higher. It’s possible that it could reach a new high before the end of the year. But there are still some hurdles to overcome.
It’s an exciting time for SHIB, but it’s important to remember that the cryptocurrency market is volatile. Don’t invest more than you can afford to lose.
