Attention Shiba Inu (SHIB) investors: Will it go up?

The recent decline in the market, Shiba Inu (SHIB) It hurt the prices of leading crypto assets, including At its current level of $0.00002220, the dog-themed memecoin is down 1.42 percent on monthly charts, 6.6 percent in the last seven days, and 3.47 percent in the last 24 hours.

The massive collapse also affected three key metrics related to SHIB, including burn rate, Shibarium daily transaction count, and whale adoption trends. It is of great value to keep track of these elements as they can determine SHIB’s price action this week.

Valuable metrics to track in Shiba Inu (SHIB)

As of yesterday, the Shiba Inu burn rate dropped by 74.5 percent in the 24-hour period, with only 271,470 SHIBs burned. The amount burned on June 10 is not enough to positively affect the price of Shiba Inu, whose market value is 13.08 billion dollars.

However, SHIB burns gained momentum earlier today, with the burn rate increasing by 2,814 percent in the last 24 hours. This represents 7,912,388 (7.91 million) SHIB burns per day at a cost of $175 at the current exchange rate.

Another valuable trend to watch is Shibarium’s total number of processes. In particular, Shibarium’s adoption rate has dropped significantly due to the recent market downturn. Latest information shows that Shibarium adoption rate continues to drop to lower levels. Shibarium’s total number of processes is currently around 4,360, down from 8,780 on June 5.

While these measurements may cause concerns among investors, the positive side is that they could pave the way for a potential comeback in SHIB price before this weekend. Interestingly, new investors may see this as an opportunity to purchase SHIB at discounted prices, potentially paving the way for a resurgence of interest among whales

In addition, leading crypto exchanges, including Coinbase and Robinhood, have been heavily shuffling the SHIB token in the last 24 hours. As previously reported, these two trading platforms moved 9.6 trillion SHIB in one day; This corresponds to 1.62 percent of the circulating supply of Shiba Inu.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.

Leave a Reply

Your email address will not be published. Required fields are marked *