Shiba Inu – A 6,306% hike in inflows? It could be a breakout or a bull trap IF…
The post Shiba Inu – A 6,306% hike in inflows? It could be a breakout or a bull trap IF… appeared on BitcoinEthereumNews.com. Whale inflows and token burns surged while the NVT ratio hinted at overvaluation risk Network growth declined, but SHIB could still eye a breakout from its bullish wedge formation Shiba Inu [SHIB] has been witnessing a remarkable rebound in investor engagement lately, one fueled by a 6,306% hike in whale inflows after the Shibarium upgrade introduced multi-gas token support and smart contract enhancements. At the time of writing, SHIB was trading near $0.00001160, on the back of an uptick in speculative interest. In fact, large holders may be repositioning too, especially as Futures volumes spiked past $147.27 million, primarily from Gate.io. Such an influx could be a sign of renewed confidence among sophisticated traders. To put it simply, Shiba Inu’s smart contract narrative is reshaping investor conviction, potentially setting the stage for a new bullish chapter. Are massive Shiba Inu burns a signal of renewed token utility? Token burns have reignited aggressively, with over 1.19 billion SHIB burned in the past week – Marking a 1,499% hike. Additionally, 24-hour burns soared by 958%, reflecting a sudden shift in on-chain activity. At the same time, SHIB’s daily circulation spiked to an eye-catching 494.8 billion tokens. This could be a sign of higher velocity of tokens, likely spurred by speculative demand. However, these developments could also signify greater short-term trading and arbitrage activity. If sustained, this aggressive burn momentum may enhance the deflationary appeal of SHIB and reinforce bullish sentiment among long-term holders. Source: Santiment Is SHIB’s value rising faster than… Despite positive signs in token flow and price action, the NVT ratio has surged to 1,194 – Its highest level in months. This metric compares market cap to transaction volume, and such a steep rise often alludes to overvaluation. Therefore, while short-term traders may continue accumulating, the network’s transactional utility could…
The post Shiba Inu – A 6,306% hike in inflows? It could be a breakout or a bull trap IF… appeared on BitcoinEthereumNews.com.
Whale inflows and token burns surged while the NVT ratio hinted at overvaluation risk Network growth declined, but SHIB could still eye a breakout from its bullish wedge formation Shiba Inu [SHIB] has been witnessing a remarkable rebound in investor engagement lately, one fueled by a 6,306% hike in whale inflows after the Shibarium upgrade introduced multi-gas token support and smart contract enhancements. At the time of writing, SHIB was trading near $0.00001160, on the back of an uptick in speculative interest. In fact, large holders may be repositioning too, especially as Futures volumes spiked past $147.27 million, primarily from Gate.io. Such an influx could be a sign of renewed confidence among sophisticated traders. To put it simply, Shiba Inu’s smart contract narrative is reshaping investor conviction, potentially setting the stage for a new bullish chapter. Are massive Shiba Inu burns a signal of renewed token utility? Token burns have reignited aggressively, with over 1.19 billion SHIB burned in the past week – Marking a 1,499% hike. Additionally, 24-hour burns soared by 958%, reflecting a sudden shift in on-chain activity. At the same time, SHIB’s daily circulation spiked to an eye-catching 494.8 billion tokens. This could be a sign of higher velocity of tokens, likely spurred by speculative demand. However, these developments could also signify greater short-term trading and arbitrage activity. If sustained, this aggressive burn momentum may enhance the deflationary appeal of SHIB and reinforce bullish sentiment among long-term holders. Source: Santiment Is SHIB’s value rising faster than… Despite positive signs in token flow and price action, the NVT ratio has surged to 1,194 – Its highest level in months. This metric compares market cap to transaction volume, and such a steep rise often alludes to overvaluation. Therefore, while short-term traders may continue accumulating, the network’s transactional utility could…
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