Shiba

2024

Burn

Shiba Inu

Inu.

<p>The post <a href="https://coinpedia.org/news/santiment-report-says-massive-surge-in-shiba-inu-shib-could-be-imminent/">SHIB Inu Price Ready to EXPLODE? Here’s Why You Should Buy Now</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/news/shiba-inu-crypto-whale-returns-massive-shib-buy-signals-new-bull-run/">Shiba Inu</a>, the second-largest meme coin by market cap, has recently seen significant fluctuations. Insights from market intelligence platforms Santiment show a decline in whale holdings of SHIB on centralized exchanges, while the coin’s burn rate has soared.</p> 
<p>Despite these challenges, recent data suggests Shiba Inu could be gearing up for a substantial price increase. Currently, SHIB is trading at <a href="https://markets.coinpedia.org/shiba-inu/">$0.00002178</a>, marking a slight 1% rise.</p> 
<h2 class="wp-block-heading" id="h-decline-in-exchange-holdings">Decline in Exchange Holdings</h2> 
<p>Santiment reports a consistent drop in Shiba Inu held on centralized exchanges. Since May 27, the top ten exchanges have seen reductions in SHIB holdings. Whale wallets, specifically, now hold 2.4% fewer tokens compared to three weeks ago.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"> The top 10 exchange wallets on the <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw">#ShibaInu</a>, <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a>, and <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> networks, respectively. Since May 27th, their holdings have shrunk by:<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a>: -2.4%<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>: -2.9%<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>: -8.6%<br><br>Decreasing exchange supplies should be considered a good sign for bullish traders. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44d.png" alt="👍" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/MbrSKaFF8s">pic.twitter.com/MbrSKaFF8s</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1801370642811654633?ref_src=twsrc%5Etfw">June 13, 2024</a>
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<p>In mid-May, SHIB supply on exchanges peaked before beginning a decline in late May and early June. As of June 12, exchanges collectively held 164.63 trillion SHIB tokens.</p> 
<h2 class="wp-block-heading" id="h-bullish-signals-from-investor-behavior">Bullish Signals from Investor Behavior</h2> 
<p>The decrease in SHIB tokens on exchanges is seen positively by Santiment, indicating investors are moving their <a href="https://coinpedia.org/news/shiba-inu-community-nears-10000-signatures-for-shib-etf-petition/">holdings</a> to self-custodial wallets. Moreover, there’s been a notable accumulation of SHIB from exchanges, with wallets holding between 10,000 and 10 million SHIB tokens steadily rising to 831,548 addresses—an increase of 36,281 since March 5.</p> 
<h2 class="wp-block-heading" id="h-shiba-inu-s-burn-rate-surged">Shiba Inu’s Burn Rate Surged</h2> 
<p>Simultaneously, the Shibburn analytics platform reports a staggering 1,460.86% surge in the burn rate over the last 24 hours. Seven burn transfers have collectively disposed of 110,885,723 SHIB tokens, primarily through a single transfer of 100,000,000 SHIB to an unspendable blockchain wallet by an anonymous whale.</p> 
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   <p lang="en" dir="ltr">In the past 24 hours, there have been a total of 110,885,723 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> tokens burned and 7 transactions. Visit <a href="https://t.co/t0eRMnyZel">https://t.co/t0eRMnyZel</a> to view the overall total of <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw">#SHIB</a> tokens burned, circulating supply, and more. <a href="https://t.co/SaItvyEBDZ">pic.twitter.com/SaItvyEBDZ</a></p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1801464850394018301?ref_src=twsrc%5Etfw">June 14, 2024</a>
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<h2 class="wp-block-heading" id="h-shiba-inu-price-forcast-nbsp">Shiba Inu Price Forcast&nbsp;</h2> 
<p>This reduction in circulating supply could further boost the price of Shiba Inu. However, a prominent crypto trader <a href="https://coinpedia.org/news/shiba-inu-shib-bull-run-to-begin-soon-legendary-trader-reveals-exact-timeline/">Coach K Crypto recently</a> revealed a timeline suggesting that SHIB could experience a 231.5% rally, potentially driving its price to $0.00053.</p> 
<p>Conversely, the derivatives market has witnessed declining trading activity and investor interest. SHIB Futures Open Interest has decreased by 1.68%, and derivatives volume has dropped significantly by 64.37%. Currently, Shib is trading at $0.00002166, a slight 0.27% decrease from the previous day’s close.</p>

SHIB Inu Price Ready to EXPLODE? Here’s Why You Should Buy Now

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