🐋 Shiba Inu has plunged 41.75% YTD as whales dumped 13 trillion SHIB since January. Their exit suggests further short-term weakness, with whale-held supply dropping from 743T to 730T.
🔥 On the flip side, SHIB’s burn rate is skyrocketing. Over 18.8M tokens were burned in a day, marking a 3,145% spike. In total, 410T+ SHIB have been removed from circulation, boosting long-term deflationary pressure.
🚀 Shibarium is also seeing strong adoption, with 1.129B transactions and 206M addresses. Since network fees are converted into SHIB and burned, activity here could lift SHIB’s value.
📉 Technically, SHIB formed a bullish harmonic pattern and double-bottom around $0.00001090. If it holds, the price could rally to $0.00004552. But if it crashes below support, SHIB risks falling to $0.0000050.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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