Shiba Inu (CRYPTO: SHIB) is seeing another spikein its burn rate and whale holdings, hinting at potential upside for the meme coin.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001182 | $6.96 billion | -11.3% |
| Dogecoin | (CRYPTO: DOGE) | $0.2311 | $34.9 billion | -17.2% |
| Pepe | (CRYPTO: PEPE) | $0.059363 | $3.93 billion | -16.9% |
Trader Notes: Polaris XBT highlighted Shiba Inu's year-long consolidation and resilience:
Crypto Monkey reported entering a small long at $0.00001180 SHIB, targeting $0.00001280.
Crypto Dot News noted the coin retested key support as whales accumulated heavily, with on-chain data showing whale holdings up 85% over 30 days alongside accelerating exchange outflows. This indicates smart money may be positioning for a rebound.
Statistics: Shibburn data shows burn rate increased 396.96% over the past 24 hours as 1.16 million SHIB were removed from the ecosystem.
Shibariumscan data shows daily transactions remain weak compared the the 4 million level a month ago.
Arkham Intelligence data highlighted one of the largest whale transactions for Shiba Inu: a major whale moved 161.3 billion SHIB ($1.97 million) off Coinbase into a fresh Ethereum wallet over two transactions on two different days.
Read Next:
Image: Shutterstock
