Analytics data from a well-known indicator that “has proven remarkably precise in predicting Shiba Inu price movements” has been published by cryptocurrency trader and analyst Ali Martinez. This indicator now indicates that the second-largest meme cryptocurrency is burning a whopping four zeros and experiencing huge growth of 122,122.22%.
“SHIB could potentially reach $0.011”
Martinez stated that the well-known joke cryptocurrency Shiba Inu is showing a buy signal on the TD Sequential Indicator. According to the expert, this reading suggests that the price of SHIB may be about to rise, maybe hitting $0.010 or even $0.011, burning all four zeros.
The projected rise from the current price of $0.00000910, where SHIB is being traded, would represent an astounding 122,122.22% increase.
https://x.com/ali_charts/status/1752356783513838036?s=20
SHIB whale activity surges
Recent data from IntoTheBlock shows that as the frequency of transactions involving big quantities of this well-known meme coin has grown, the activity of Shiba Inu whales has surged by an astounding 1,100%.
Big Shiba Inu wallets moved over $80 million worth of SHIB in only one day last week. Afterwards, the Etherscan tracker saw that, during the previous week, astonishing SHIB chunks totaling about half a trillion of these meme tokens were traded.
SHIB burns plunge following price
The SHIB burn rate has significantly decreased during the past 24 hours, according to Shibburn Tracker. There have been as little as 5,213,658 Shiba Inu meme coins destroyed, making the drop 91.51%.
The largest Shiba Inu meme coins burnt this time were 1,987,896, 1,251,653, and 1,111,111.
The ultimate objective of these burns is to try to lower the total amount of SHIB in circulation in order to potentially raise its price and raise the meme currency to a new all-time high. Half of the quadrillion SHIB supply, or 410,708,120,571,028 SHIB, have been locked in non-spendable blockchain wallets since 2021. There are currently 581,301,400,424,601 Shiba Inus in the market, of which investors own a portion.
Thus far, it appears that the SHIB burn rate curve is following the price movement of the SHIB; in the past day, it has shown a 4.30% decline, falling from $0.00000945 to $0.00000905.
