1. Shiba Inu (SHIB) may experience a short-term upswing, supported by developments in its layer-2 blockchain solution, Shibarium, and a resurgence in the meme coin sector.
2. Despite a recent 3% price drop over two weeks, key metrics and positive factors suggest that the correction in SHIB's price could be nearing its end.
3. CryptoQuant data indicates that SHIB exchange netflow has been positive only once in the past eight days, suggesting a shift from centralized exchanges to self-custody methods, which is considered bullish as it reduces immediate selling pressure.
4. SHIB's burning program, with over 9 billion tokens destroyed since the beginning of 2024, could contribute to a potential rally by reducing the circulating supply and making the token scarcer.
5. The Shibarium team introduced an update to automate the token burning process, reducing manual intervention and potentially boosting SHIB's value over time.
6. Further advancements in Shibarium's layer-2 scaling solution, launched in August 2021, aim to support the growth of SHIB's ecosystem by reducing transaction fees and improving speed.
7. The potential revival of the meme coin sector, especially those built on Solana, could act as another factor propelling a SHIB rally, as meme coins tend to follow each other's trends.
