Shiba Inu burn rate surges 4,833%: Will SHIB’s price follow suit?
The post Shiba Inu burn rate surges 4,833%: Will SHIB’s price follow suit? appeared on BitcoinEthereumNews.com. Whale inflows and low volatility signaled strong accumulation and market stability. Open Interest and short liquidations supported SHIB’s bullish breakout potential. Shiba Inu’s [SHIB] momentum surged as the 24-hour burn rate spiked by 4,833.89%, revealing a renewed wave of community activity and token destruction. This dramatic uptick suggests heightened efforts to reduce SHIB’s circulating supply, often viewed as a bullish signal. Meanwhile, overall market sentiment appears to have shifted positively, supported by steady price appreciation. Whale accumulation intensifies as SHIB volatility cools down Whale accumulation has intensified, with large holder netflow soaring by over 6,050% in the last seven days. This level of accumulation, backed by a 3,077% monthly increase, highlighted the rising conviction among long-term investors. Such inflows from deep-pocketed holders typically precede major price moves, especially when combined with bullish technical structures. Source: IntoTheBlock Volatility has dropped to 69.20%, the lowest in the past 30 days, following a recent high of 84.62% in late April. This drop reflects a temporary stabilization phase, which can often act as a launchpad for the next significant price movement. Historically, such dips in volatility during consolidation typically foreshadow a breakout. Traders show conviction In the derivatives market, volume has climbed by 27.30% to $122.26 million, while Open Interest was up 11.84%, now totaling $174.12 million. These increases indicate growing speculative interest and participation in the market, frequently a precursor to higher volatility and directional movement. SHIB’s exchange reserves dropped by 6.57%, while net outflows spiked by over 1,558%, suggesting whales are moving assets off exchanges. This combination suggests that tokens are leaving exchanges and moving into cold storage, signaling reduced selling pressure and increased long-term conviction. Source: CryptoQuant Short squeezes fuel bullish continuation? The OKX liquidation heatmap revealed strong liquidations of short positions as SHIB’s price climbed beyond key resistance zones. These…
The post Shiba Inu burn rate surges 4,833%: Will SHIB’s price follow suit? appeared on BitcoinEthereumNews.com.
Whale inflows and low volatility signaled strong accumulation and market stability. Open Interest and short liquidations supported SHIB’s bullish breakout potential. Shiba Inu’s [SHIB] momentum surged as the 24-hour burn rate spiked by 4,833.89%, revealing a renewed wave of community activity and token destruction. This dramatic uptick suggests heightened efforts to reduce SHIB’s circulating supply, often viewed as a bullish signal. Meanwhile, overall market sentiment appears to have shifted positively, supported by steady price appreciation. Whale accumulation intensifies as SHIB volatility cools down Whale accumulation has intensified, with large holder netflow soaring by over 6,050% in the last seven days. This level of accumulation, backed by a 3,077% monthly increase, highlighted the rising conviction among long-term investors. Such inflows from deep-pocketed holders typically precede major price moves, especially when combined with bullish technical structures. Source: IntoTheBlock Volatility has dropped to 69.20%, the lowest in the past 30 days, following a recent high of 84.62% in late April. This drop reflects a temporary stabilization phase, which can often act as a launchpad for the next significant price movement. Historically, such dips in volatility during consolidation typically foreshadow a breakout. Traders show conviction In the derivatives market, volume has climbed by 27.30% to $122.26 million, while Open Interest was up 11.84%, now totaling $174.12 million. These increases indicate growing speculative interest and participation in the market, frequently a precursor to higher volatility and directional movement. SHIB’s exchange reserves dropped by 6.57%, while net outflows spiked by over 1,558%, suggesting whales are moving assets off exchanges. This combination suggests that tokens are leaving exchanges and moving into cold storage, signaling reduced selling pressure and increased long-term conviction. Source: CryptoQuant Short squeezes fuel bullish continuation? The OKX liquidation heatmap revealed strong liquidations of short positions as SHIB’s price climbed beyond key resistance zones. These…
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