Following a strong correction witnessed by Shiba Inu recently, the meme coin appears to be regaining an upward momentum in the broader crypto market today, illustrating signs of a price recovery for the SHIB token. This upward momentum noted by SHIB comes riding along a plethora of bullish factors that piqued the interest of crypto market enthusiasts across the global crypto realm.
Here’s a closer look into the key reasons that potentially aided SHIB’s price upswing, stirring speculations over an end-of-correction for the dog-based meme token.
Key Reasons For SHIB’s Price Upswing
Numerous bullish factors, including token burns, on-chain data, and Shibarium’s spike in total transactions, appear to be supporting SHIB’s upward trajectory today. Here’s a deeper dive into these bullish factors.
SHIB Burn Sparks Optimism
Intriguingly, the Shiba Inu burn rate surged 136% today, April 6, sparking notable investor enthusiasm as the token’s supply once again took a hit. According t
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