Shiba Inu Bulls Are Active as Price Flips Bullish on 12% Gains
Main Idea
Shiba Inu (SHIB) has experienced a 12% price rally, supported by increased whale activity and a high burn rate, but low trading volume and community division pose potential challenges.
Key Points
1. Shiba Inu's price increased by 12%, trading at $0.00001368 with a 5.77% rise at the time of writing.
2. Whale activity surged by 525% in the last 48 hours, with transactions valued between $1 million and $10 million, indicating strong interest in SHIB.
3. The SHIB burn rate reached as high as 3,400%, contributing to supply tightening and price support.
4. Trading volume remains low, down 28.44% at $228.63 million, which could hinder further price gains.
5. Shiba Inu developer Kaal Dhairya emphasized community unity, but a proposal to elect a 'SHIB president' faced backlash from some community members.
Description
Shiba Inu turns around with 12% rally, but there's major twist
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