Shiba

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Shiba Inu

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<p dir="ltr">Shiba Inu (SHIB) is consolidating after a massive rally that saw its price jump as high as $0.0000303, its highest price level since April. Shiba Inu has also drastically fallen in its burn rate metric and sliding prices. Data from Shibburn<a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">shows</a> that approximately 4.2 million SHIB have entered burn addresses in 24 hours, with the metric falling by 94%.</p>
<h2 id="shiba-inu-and-major-ecosystem-catch">Shiba Inu and major ecosystem catch</h2>
<p dir="ltr">Multiple metrics measure Shiba Inu's growth performance, which has placed the token in the spotlight. At the time of writing, SHIB's price dropped by 11.82% in 24 hours, and trading volume also nosedived by 37.66%. Amid all of these metric slumps, Shiba Inu has retained a positive rally over the past week and month.</p>
<p dir="ltr">Beyond these, Shibarium has a positive growth outlook after surpassing the 500 million transaction milestone, as<a href="https://u.today/shibarium-to-hit-fresh-transaction-milestone-in-hours" rel="noopener noreferrer nofollow">projected earlier</a>. This implies that the protocol's usability or adoption is at its highest level, with daily transactions jumping in tandem.</p>
<p dir="ltr">With this rapid embrace, the meme coin might find a notable anchor to pull off a stunning comeback moving forward. Despite the consolidation on the market at the moment, SHIB's price is positioned to resist sell-offs that will see it drop below the $0.000024 level soon.</p>
<h2 id="banking-on-historical-trends">Banking on historical trends</h2>
<p dir="ltr">While relatively younger than established digital currencies like Bitcoin and Ethereum, Shiba Inu has a mixed November performance record. By banking on its more than 34% rally thus far this month, Shiba Inu can ride history to correct the negative flow in its token.</p>
<p dir="ltr">Shiba Inu has defined<a href="https://u.today/shiba-inu-shib-whales-go-big-as-113-trillion-tokens-snapped-up-in-24-hours" rel="noopener noreferrer nofollow">whale activity</a>, with Open Interest data pointing to sustained optimism among investors. Its correlation with Bitcoin might also prove to be positive for the digital currency.</p>
<p>Should Bitcoin plot a recovery in line with its previous ATH, this could<a href="https://u.today/shiba-inu-shib-forms-rare-golden-cross-but-crazy-unexpected-twist-emerges" rel="noopener noreferrer nofollow">fuel a rally in SHIB</a>.</p> <a href="https://u.today/shiba-inu-shib-burn-rate-slumps-but-theres-a-catch" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Shiba Inu (SHIB) Burn Rate Slumps, But There's a Catch

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