Shiba Inu (SHIB) Key On-Chain Metric Rockets 210% in Stunning Overnight Surge

Behind the scenes of the Shiba Inu token (SHIB), a noteworthy surge of activity has emerged, closely tied to the actions of major token holders, often referred to as "whales" in the crypto community.

Timeline of Shiba-inu

The Shiba Inu (SHIB) meme coin is sustaining its attempt to regain its lost valuation, and this time, it is concentrating its efforts on boosting sentiment by drawing on the positivity in its burn rate. The burn rate metrics, according to data from Shibburn.com, show that a total of 61,229,037 SHIB tokens had been incinerated in the past 24 hours, a figure that represents 62% growth at the time of writing.

Shiba Inu (CRYPTO: SHIB) has seen a 65% increase in its burn rate, with over 61 million of its tokens burned in the last 24 hours. What Happened: The spike in burning activity comes as Shiba Inu whales continue to accumulate SHIB tokens, indicating their growing interest in the digital asset at its current price.

As the cryptocurrency market shows minor signs of rebounding in the last 24 hours, Shiba Inu is signaling a potential bullish recovery as it approaches a key resistance level. After plummeting to its monthly support threshold, the SHIB token has staged a bullish turnaround, backed by mixed on-chain indicators.

Shiba Inu's marketing strategist, Lucie, recently took to X (formerly Twitter) to provide an insightful reflection on the multiple upcoming developments within the Shiba Inu ecosystem, including the eagerly awaited

Huobi Global, one of the top trading platforms renowned as a major backer of the Shiba Inu (SHIB) meme coin project, has announced its comprehensive rebranding to HTX. The move, according to the exchange, was targeted at creating a new identity for the firm after a cumulative 10 years since it began serving customers from around the world.

In a recent development, Robinhood, the popular U.S.-based trading platform, has witnessed an astonishing influx of Shiba Inu tokens (SHIB) into its wallets. Data extracted from the Etherscan explorer reveals an eye-popping acquisition of nearly a trillion SHIB tokens since the start of September.

Shiba Inu (SHIB) is in the spotlight at the moment as stakeholders are exploring to see whether or not it will beat its next major resistance price level. At the time of writing, Shiba Inu is worth $0.00000724 on spot exchanges after recording a mild loss of 0.84% in the past 24 hours, per CoinMarketCap data.

Blockchain explorer provider NOWNodes has unveiled a new offering dubbed the Shibarium RPC Full Node. The latest development was announced on the X app earlier today, exciting members of the ShibArmy.

The Shiba Inu (SHIB) network is buzzing, but not for the reasons you might think. A staggering $115 million worth of SHIB has been shuffled around by whales, triggering a 5x surge in large transactions.

Since the tail end of August, the SHIB price trajectory has been notably downward, plunging from a peak of $0.00000838 to a recent low of $0.0000069. This sharp 16.5% descent, aligned with the broader market bearishness, paints a picture of unwavering SHIB sellers.