CandleFocus Shiba Inu price could rise 60% as burn rate rises 3,400%
2024-12-03
Author: Content Editor
The price of Shiba Inu (SHIB) has retreated for two consecutive days, with a 16.2% decrease from its highest level this month. This decline can be attributed to the overall pullback of Bitcoin (BTC) and other cryptocurrencies. However, analysts believe that SHIB price has more upside potential as the altcoin season index has risen to 80. Additionally, the number of Shiba Inu tokens being burned has increased significantly, creating value for the project by reducing the circulating supply. Technical indicators suggest a potential price jump in the near term, with a potential retest of the year-to-date high.
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