Shiba Inu (SHIB) recently displayed substantial network activity, marked by a burn rate increase of 6,750%, effectively removing 27.1 million coins from circulation. This significant reduction in supply could potentially impact the price of SHIB positively in the future.
Moreover, whale transactions showed a remarkable 240% leap, amounting to 3.42 trillion SHIB, approximately valued at $61.5 million. This surge demonstrates heightened interest from substantial investors in the SHIB ecosystem.
Furthermore, Shibarium's daily transactions witnessed a massive 1,300% growth, reaching a remarkable 1.8 million daily transactions. The increase in transaction volume indicates growing adoption and utility of the Shibarium network.
The number of active accounts on the Shibarium network has also climbed to a one-year high, surpassing 26,000. This rise in active users highlights a thriving user base actively engaging with the platform.
Additionally, SHIB's Relative Strength Index (RSI) is nearing oversold levels, which suggests a potential buying opportunity for investors looking to enter the market at lower prices.
