The cryptocurrency industry has seen significant developments, with Shiba Inu (SHIB) taking center stage. The current scene has reached a pivotal point with a hacker reportedly moving about $100 million worth of SHIB. The burn rate of the crypto token has skyrocketed, supporting an increase in its price.
An analyst predicts a new all-time high, suggesting the coin is ready for a 10x surge under its wave 3. However, with a prediction of downward spiral in 2024, investors are contemplating whether it's time to sell. A retail traders' exit is also reported, leading to a drop in small wallets to the lowest level since 2022.
Contesting meme coins including Dogecoin and Mpeppe are drawing investor interest, thus heating the rivalry. Observations indicate shifts from other coins for potential 100x returns on Ethereum tokens. On the contrary, a counter view holds opting for Millions of SHIB could turn investors into millionaires.
There are increased burns and wave activity and crucial reversal facts to be considered. Crypto analysts are mixed on the prospective numbers wherein some predict a massive rally, while others hold a contrasting 'realistic' prediction.
A notable point is the involvement of Shiba Inu whales who have transferred over 1.11 trillion SHIB, indicating an on-chain anomaly. Other important development includes an update on Shibarium nearing 17,700 smart contracts. SHIB’s price is also reportedly surging with whale demand hitting a 3-month peak.
Shiba Inu News Analytics from Wed, 21 Aug 2024 07:00:00 GMT to Thu, 12 Sep 2024 00:11:45 GMT - Rating -2 - Innovation -3 - Information 2 - Rumor -5