DeFi & NFT
By Evie Vavasseur
1 / 11
Shiba Inu, one of the most closely watched cryptocurrencies in the market, has reignited investor attention with a dramatic 1,361% spike in its 24-hour burn rate.
2 / 11
Surge in Wallet Activity Signals Renewed Interest
3 / 11
Recent on-chain data shows that interest in Shiba Inu is rising. New wallet addresses increased by over 22% in the last week, and active wallet numbers rose by more than 23%,…
4 / 11
Technical Setup Suggests a Potential Breakout
5 / 11
On the technical analysis front, SHIB appears to be forming a bullish cup and handle pattern, which is often considered a positive sign by traders.
6 / 11
Market Sentiment Divided Amid Exchange Activity
7 / 11
While network and technical indicators appear bullish, exchange data shows a more complex picture.
8 / 11
Derivatives Data Hints at Over-Leveraged Optimism
9 / 11
Further adding to the uncertainty is the data from SHIB’s derivatives market. Long liquidations recently totaled nearly half a million dollars, vastly outweighing short positions.
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Is This the Start of a New Chapter for SHIB?
11 / 11
Despite the promising signals from its burn rate and user engagement, Shiba Inu's future still hinges on its ability to overcome key resistance levels with strong buying volume.
The Currency Analytics
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