Shibarium Transactions Surge, Boosting SHIB Price Outlook
- Shibarium transactions increased from 2.43 million to 3.1 million within a day, marking a 27% rise.
- Crypto analyst Javon Marks forecasts a potential SHIB price surge to the $0.00003 range.
- The burn rate for Shiba Inu rose by over 25,353%, with 26.3 million SHIB tokens burned in the last 24 hours.
- 57% of SHIB holders are currently out of the money, indicating potential sell-off risks.
- On-chain metrics show that crypto whales are not accumulating SHIB currently.
The recent surge in Shibarium transactions and an increased burn rate provide a bullish outlook for Shiba Inu, although on-chain metrics remain bearish with significant holder losses and lack of whale accumulation.
Source (2.6)https://coingape.com/shibarium-transactions-surge-27-whats-next-for-shib-price/?rand=24432
