CandleFocus Can Shiba Inu price really soar to $1 as burn rate jumps?
2024-12-14
Author: Content Editor
Shiba Inu (SHIB), the second-largest meme coin, saw its price consolidate over the weekend despite some analysts remaining optimistic. The price of SHIB rose by 163% from its lowest point in August, with some analysts predicting a strong bullish breakout in the coming weeks. The ongoing token burn and investors moving their tokens from exchanges are seen as potential catalysts for the price increase. The SHIB price has been in a slow uptrend since August, forming a cup and handle pattern, indicating a continuation of the bullish trend. While some predict SHIB could reach $1, this scenario is unlikely. The origins of Shiba Inu, similar to Bitcoin's creator, remain anonymous.
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