Shiba Inu (SHIB) Might Make Significant Move in Upcoming Week: Details

The Shiba Inu token (SHIB) has seen a period of relative stagnation for the past 24 days, but this might change in the upcoming week, according to recent data. The cryptocurrency, famous for its meme-coin origins, has displayed almost no volatility in recent weeks, but several indicators suggest that a significant price movement could be on the horizon.

Timeline of Shiba-inu

According to the figures provided by the Shibburn crypto tracker, after the recent SHIB burns, the burn rate has gone up a little. In the meantime, the SHIB army has been burning several billions of SHIB for several consecutive weeks already.

Based on the latest crypto data, we see that with Bitcoin (BTC) hovering above the $26.5K price range, this factor could lead to a lack of significant price movements in the short term for Shiba Inu.

Shiba Inu's big day has finally arrived, with two main events set to kick off. Both have to do with Shiba Inu-themed cold wallets developed in collaboration with Tangem, a Swiss-based blockchain firm.

The vast and loyal Shiba Inu army of users has again demonstrated high results in burning their favorite meme coin, SHIB, as this time, within the last 24 hours, they have removed almost a quarter billion SHIB coins.

A report has revealed that a staggering 79.86% of addresses associated with the Shiba Inu (CRYPTO: SHIB) token have incurred losses reaching six figures. What Happened: The addresses collectively hold an astonishing 887.86 trillion SHIB, which equates to a value of $7.81 billion and accounts for 90.31% of the total Shiba Inu supply.

SHIB News: Shiba Inu burn rate soared over 1450% in the last 24 hours after another massive burn of SHIB tokens. The community leveraged the meme coin season to increase the burn rate and number of users holding Shiba Inu.

Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, has witnessed a remarkable surge in network activity as it recently recorded an unprecedented number of new addresses. According to data shared by prominent analyst Ali Charts, 2,538 new SHIB addresses were created on May 26, marking the highest increase in three months.

Recent data from IntoTheBlock has revealed a distressing trend among Shiba Inu token holders, with the number of individuals experiencing losses reaching six figures. Currently, this figure represents a staggering 79.86% of all addresses associated with the token.

The Shiba Inu network has witnessed a remarkable increase in activity, resulting in a surge of new SHIB addresses being created. On May 26, a staggering 2,538 fresh addresses emerged, signifying the highest growth in three months, according to renowned crypto analyst Ali Martinez.

Shiba Inu Price Prediction: For the past three weeks, the Shiba Inu price has been hovering above the long-coming support trendline of the symmetrical triangle pattern. During this consolidation, the sellers' failure to obtain follow-up on their attack(red candles) indicated a sign of active accumulation.