This week saw the strong entry of Shiba Inu (SHIB) amid a general feeling of cryptocurrency consolidation. The market leader Bitcoin (BTC) is down 0.88%, but Shiba Inu has up 0.88% as of this writing, to $0.000008069, suggesting that this new week will be bright.
Three Shiba Inu triggers
Three important elements might increase Shiba Inu’s growth performance as the week progresses and it shows growing divergence from Bitcoin: its trading volume and whale activity; its deflationary or burn rate; and Shibarium total value locked (TVL).
The rate at which the free market absorbs Shiba Inu is critical because it will increase trade volume and contribute to increased liquidity, both of which are necessary for a stable market. With this measure up 71% to $193,840,004 in the last day, the aim is straightforward and centred on expanding on current growth patterns.
Whale contributions are also expected to have an effect on this measure since a boost from major purchasers can have a big influence. For the most of the year, Shiba Inu burn rate has served as a stabilising force when other measures were not as significant.
With just 1.3 million SHIB tokens burned so far, the burn rate is now at its worst. A rise in this indicator has the potential to drastically alter the market landscape.
Shibarium factor
The final important thing to be aware of is Shibarium. Will the chain continue to function without hiccups? Will there be the release of new decentralised apps capable of causing transaction surges? Will there be an attack?
A well-managed protocol has the power to transform the game for all parties involved this week and beyond, giving users and investors in the Shiba Inu ecosystem back trust.
