Shiba Inu Price Analysis: What's Ahead for SHIB Price after Reclaiming $0.000008?

SHIB Price Analysis: The Shiba Inu price received a massive boast amid the recent recovery in market leaders Bitcoin and Ethereum. This memecoin has been rising for ten consecutive days and recorded 23.55% growth as prices jumped from $0.00000645 support to the current price of $0.00000797.

Timeline of Shiba-inu

Shibburn explorer spreads the word about the SHIB burn rate rising again this week. The SHIB army keeps sending large stashes that contain millions of Shiba Inu to dead-end wallets to lock them up there.

In an unexpected development in the cryptocurrency community, Shiba Inu lost its burn Twitter account (Shibburn). The event has attracted attention as the account holders tagged the new Twitter CEO Linda Yaccarino and Elon Musk, asking for a resolution.

A significant surge has been observed in the burn rate of the popular meme-inspired cryptocurrency Shiba Inu ($SHIB), wirth over 341 million tokens being burned in the past 24-hour period, leading to a staggering 6,936% increase in the burn rate.

Shiba Inu (SHIB) price soared 15% on Wednesday after the dev team launched a much-heralded NFT-based merch collection. On-chain data reveals that crypto whales have increased their trading activity significantly.

Data shared by the Etherscan tracker shows that within the past hour, anonymous whales have transferred nearly 18 billion Shiba Inu meme coins. Part of them was sent to Binance to be sold.

Shiba Wings, an Australian fast-food diner with a Shiba Inu theme, has enjoyed a successful opening in Surfers Paradise. While customer appetite for their delicious fried treats has been strong, the same enthusiasm has not translated into crypto payments.

According to IntoTheBlock, the Shiba Inu token experienced a remarkable increase in transactions valued at $100,000 or more. In just 24 hours on Thursday, these transactions skyrocketed by an astounding $11.76 million, representing impressive growth of 151.7%.

In its most recent blog post, Layer 2 Shibarium beta testnet builder Unification provides a new update. In a tweet, Lucie, a Shiba ecosystem official, shares the most recent information from Unification regarding Shibarium beta.

The recent surge in the Shiba Inu token burn has impacted the SHIB market again. Within 24 hours, over 341 million SHIB tokens were destroyed, sending the burn rate skyrocketing by roughly 6,936%.

The SHIB token has been on an incredible rally recently, pumping more than 18% in just the past week. This growth can be attributed to the current increase in the crypto market as a whole.