CandleFocus Shiba Inu (SHIB) Burn Rate Slumps, But There's a Catch
2024-11-13
Author: Content Editor
Shiba Inu (SHIB) has experienced a significant rally followed by consolidation, reaching its highest price level since April. The token’s burn rate has decreased, and its price and trading volume have dropped. However, SHIB has maintained a positive rally over the past week and month. Shibarium, the protocol associated with SHIB, has surpassed the 500 million transaction milestone, indicating high adoption and usability. Despite current market consolidation, SHIB's price is expected to resist further sell-offs. Shiba Inu has seen mixed performance in November but hopes to leverage its previous rally to correct the negative flow in its token. Whale activity and a positive correlation with Bitcoin may also benefit SHIB. If Bitcoin recovers, it could fuel a rally in SHIB.
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