TL;DR
Some important elements indicate a potential upswing for Shiba Inu in the short term.
Developments in SHIB’s layer-2 blockchain solution and a resurgence of the meme coin sector could support this rally.
Is it Time for a SHIB Rally?
Shiba Inu (SHIB), similar to many other cryptocurrencies, has underperformed in the past several days, with its price plunging by 3% on a two-week scale (per CoinGecko’s data). However, some essential metrics and factors hint that the correction might be near its end.
According to CryptoQuant, SHIB exchange netflow has been positive only once in the past eight days. Shifting from centralized exchanges to self-custody methods is considered bullish since it reduces the immediate selling pressure.
SHIB Exchange Netflow, Source: CryptoQuant
The asset’s burning program could also play a role. As CryptoPotato reported, the burn rate skyrocketed on multiple occasions in the previous weeks, with over 9 billion tokens destroyed since the beginning o
We współpracy z: https://cryptopotato.com/four-factors-indicating-a-potential-shiba-inu-shib-bull-run-incoming/
