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Major Twist in Shiba Inu (SHIB) Burn Rate Can Trigger Price Surge
According to a recent analysis of the market trends and data, it appears that there has been a significant shift in momentum for Shiba Inu (SHIB), with the price increasing by 0.45% in the last 24 hours. Despite this increase, the volume remains down by 23.47% at $831.44 million.
This unexpected surge is a major twist in the previous market trends and has raised expectations among traders that the price of SHIB could continue to show appreciable growth in the near future. While some analysts have expressed concerns about the relatively low trading volume, others believe that this could be a positive development for the cryptocurrency’s long-term prospects.
In the past few days, SHIB has been on an upward trend, with some experts attributing its climb back up from a low of $0.00002447 to the support it received from burn activities. As the market continues to fluctuate, many believe that this upward momentum could continue, possibly leading to even more significant gains in the coming days.
The recent uptick has also led to speculation about whether the retracement experienced by the broader crypto sector could trigger a surge for SHIB. Many experts are now closely monitoring the situation to gauge the potential impact of these market movements on the future price action of this meme coin.
As always, it’s essential to remember that the cryptocurrency market can be highly unpredictable and is subject to rapid changes in sentiment.
Source: u.today
