SHIB News: Bullish Momentum Builds as Shiba Inu (SHIB) Eyes 20% Rally

Shiba Inu (SHIB) is showing strong bullish signals, with a potential 20% rally on the horizon. Recent on-chain data and market activity suggest growing investor confidence in the meme-inspired cryptocurrency.

Shiba Inu (SHIB) Shows Bullish Signs with Potential 20% Rally

Shiba Inu (SHIB) has formed a bullish structure on its daily time frame, attracting significant attention from crypto enthusiasts. On-chain metrics reveal that exchanges have seen an outflow of $32 million worth of SHIB in the past 48 hours, indicating strong accumulation. Additionally, 79.11% of top SHIB traders on Binance are holding long positions, further supporting the bullish outlook. Key factors driving this Optimism include rising investor interest, bullish price action, and recent bets by Binance traders. Despite the overall market sentiment remaining stable due to recent profit-taking, SHIB's potential for a 20% rally is gaining traction.

Shiba Inu: Here’s How SHIB May End January 2025

Shiba Inu (SHIB) is currently trading at $0.00001998, down 3% in the last 24 hours. Despite showing signs of lethargy and fatigue, the token is expected to regain its lost price spot and achieve steady growth. According to Professor Crypto, a notable crypto analyst on X, SHIB is positioned for potential growth and may deliver a new price high by the end of January 2025. The token has a strong community base that continues to support its milestones and all-time highs.

Shiba Inu: AI Predicts SHIB Price For The Year 2030

Several coins in the cryptocurrency market were benefitting highly from the change in the US government. Shiba Inu (SHIB), however, barely made gains. The asset, in fact, was seen suffering throughout the very first month of the year. While the meme coin continues to remain popular among its community members, the asset was seen dropping down the cryptocurrency ranking ladder. Can SHIB replenish itself or will it take several years? Over the past 24 hours, the prominent meme coin SHIB saw a massive drop of nearly 4%. The asset went from trading at a high of $0.00002076 to a low of $0.00001985. In addition to its daily dip, the asset also witnessed a 10% fall throughout the week. Despite this downfall, the community remained rather calm and poised expecting major ret.

Shiba Inu Burn Rate Sees Major 600% Jump In Only 24 Hours, Will SHIB Price Follow Suit?

On-chain data has unveiled an impressive surge in the Shiba Inu burn rate, skyrocketing by more than 600% in just one day. This sharp rise in token burns indicates a growing interest in decreasing the overall supply of SHIB. Moreover, it has raised the possibility that the SHIB price could follow suit, as increased token burn often influences a cryptocurrency’s price movements. Shibburn, the official Shiba Inu token burn tracker, has just reported a dramatic increase in burn rate, with over 3.24 million SHIB tokens permanently removed from circulation. The tracking platform revealed that the SHIB token burn rate shot up by approximately 612.78% in less than 24 hours. This spike represents one of the most significant one-day increases in recent weeks.