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Recent on-chain data shows that Shiba Inu (SHIB) whales may have contributed to the recent decline in its price. The meme coin’s recent decline has put its blue-chip status in doubt, although this trader is still confident in Shiba Inu’s potential.
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In a positive turn of events, the Shiba Inu burn rate has seen another notable spike. This time around, the activity, meaning the number of addresses participating in the burns, has seen a notable increase and the burned tokens have risen by over 1,100% in one day.
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The crypto community’s attention was recently drawn to a Shiba Inu (SHIB) investor who has made millions of dollars from the meme coin. The investor’s strategy again highlighted the benefits of conviction and patience in the crypto market.
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Shiba Inu’s adoption rate is growing at an alarming rate as it scores another major adoption with the popular digital asset exchange Crypto.com’s latest announcement. The crypto exchange has included Shiba Inu for its Visa card payments, alongside several other popular meme coins.
Crypto.
Crypto exchange Changelly has outlined its bullish price predictions for Shiba Inu (SHIB). The crypto exchange also highlighted several fundamentals that paint a bullish picture for the meme coin.
Shiba Inu To Rise To $0.
A crypto analyst has shed light on the performance of meme coins and altcoins in the upcoming bull run.
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The Shiba Inu burn rate has seen a notable 5,569% spike in the last 24 hours, continuing the positive trend that had begun in the last week. However, this spike in the burn rate comes at a time when the crypto market is struggling, and the price of SHIB has dropped significantly.
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Shiba Inu is starting to see some upside after a surprising crash rocked the crypto market on Thursday. As the SHIB recovery brings renewed hope among investors, a machine learning algorithm has predicted further upside for the meme coin going into next week.
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In a remarkable achievement for the Shiba Inu ecosystem, Forbes, the world’s leading business media magazine has featured the doggy-themed meme coin, SHIB in a recent article.
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Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced price declines of over 10% this week. The downtrend experienced by these meme coins is likely due to the macro side, which has cast doubts in the minds of crypto investors.
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Shiba Inu (SHIB) whales are at it again, with this category of investors seen to have accumulated a significant amount of the meme coin. This development follows Forbes’ recent endorsement of the second-largest meme coin by market cap.
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Shiba Inu, the second largest meme coin, has been undergoing a sideways price movement in the past 30 days, with an emphasised decline in the past seven days. On-chain data indicates this decline might continue in the short term as selling pressure continues to increase.
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The Shiba Inu burn rate has seen a notable spike over the last 24 hours, following significant burns from the community. This is a notable change from the prior week’s slow and disappointing burn rate, showing a return of bullish sentiment among investors.
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