

Shiba Inu (SHIB), the popular meme coin, is flashing signs of a potential breakout. Technical analysis has pointed out a bullish pennant formation
Shiba Inu (SHIB), a popular meme coin, has been displaying promising signs on the technical front. According to recent analysis, a bullish pennant formation is unfolding on SHIB's 1-hour chart, accompanied by decent trading volume. This technical pattern is often indicative of a potential price surge.
The bullish pennant on SHIB's 1-hour chart suggests a period of consolidation before the next big move. This bullish pattern, combined with increasing trading volume, is hinting at a potential price surge for SHIB.
Moreover, the burn rate for SHIB has surged by an impressive 6200%, with a total of 290,321 SHIB tokens being burned and sent to dead wallets. This burn activity, as highlighted by Shibburn, is aimed at reducing the overall circulating supply of the meme coin.
This uptick in burn activity, as noted by Shibburn, underscores the community's initiative and the heightened interest in SHIB. As the burn tokens are permanently removed from circulation, it aligns with the principles of supply and demand, boding well for the coin's price trajectory.
A recent update from Shibburn also indicates a burning rate of 135 million SHIB tokens per week, further bolstering the bullish sentiment.
To add to this, the number of Shiba Inu holders has hit a record high of 1,427,381, attesting to the strong community support and growing investor interest in SHIB. This bullish sentiment, coupled with the potential catalyst of the upcoming US presidential inauguration, could serve to fuel the rally further.
Shiba Inu's consolidation phase seems to be closing in on itself. Now we accumulate til the next catalyst which IMO (Not advice) looks like January 20th during the inaugural ceremony of the next President of the United States of America. Who is pro-cryptocurrency?
Shiba Inu Developer Teases Aggressive Marketing Plans for 2024
It is important to note that cryptocurrencies are highly volatile assets and subject to market fluctuations.
The above is the detailed content of Shiba Inu (SHIB) Flashes Signs of a Potential Breakout Ahead of US Presidential Inauguration. For more information, please follow other related articles on the PHP Chinese website!

The Shiba Inu (SHIB) marketing lead, Lucie, has provided insights into the challenges that lie ahead for the meme coin.

The SHIB ecosystem features standout tokens like SHIB, LEASH, BONE, SHEB and the upcoming TREAT and SHI. These assets are not just for show

Shiba Inu price could potentially reach unprecedented heights if SHIB follows Bitcoin should the premier crypto asset hit $2.9 million as predicted by VanEck.

Senior SHIB Official Lucie has dropped hints that the highly anticipated Shibarium game, Shiba Eternity, may be out soon.

Shytoshi Kusama, the enigmatic figure leading the Shiba Inu ecosystem, has sparked speculation about a forthcoming collaboration with an AI project.

The game, which is built on the Shibarium network, aims to bring the collectible card game into the web3 with its migration to the Shibarium Layer-2 blockchain.

The Shiba Inu price crash being experienced today is not a result of a single event occurring for the meme coin. Rather, it is linked to a further market-wide crash that began with the Bitcoin price first falling below $60,000 and eventually breaking

In the volatile landscape of cryptocurrency, fortunes can change rapidly. Shiba Inu (SHIB), once a beacon of hope for meme coin enthusiasts, is currently navigating through turbulent waters.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

SublimeText3 Linux new version
SublimeText3 Linux latest version

SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function
