Shiba Inu whale trading hits three-month high and burn rate could lead to a potential $SHIB breakout.
Shiba Inu (SHIB), the popular memecoin, has experienced a staggering burn rate of over 3000% in the last 24 hours.
Cryptocurrency analysis platform Santiment highlights that despite the significant decrease in market capitalization, recent positive signs in whale trading have sparked renewed interest in the Shiba Inu
Shiba Inu's market capitalization has faced a slight decline. The current market capitalization is valued at $4,469,406,075.
According to data from Santiment , a prominent cryptocurrency analytics firm, the burn has had a profound impact on the price and market capitalization of the Shiba Inu.
Shib is gradually regaining the attention of traders after experiencing a slight price increase of +8% over the weekend. Despite the decrease in market capitalization, there are other encouraging indicators in the Shiba Inu ecosystem.