Over the past two weeks, the overall burn rates for Shiba Inu have remained high, with a total of 135.03 million coins being burned in the last week alone. This uptick in activity follows a request from the Shiba Army for exchanges like Binance to implement a daily burn mechanism. Supporters believe that these actions could lead to better price performance for Shiba Inu in the future, especially with a wider interest in cryptocurrencies.
Adding to the positive sentiment, Lucie, Shiba Inu’s marketing lead, has predicted a bullish period for altcoins, specifically for Shiba Inu and its sister coins, SHEB, LEASH, and BONE. Meanwhile, data from IntoTheBlock indicates a rise in large transaction volumes, increasing by 269%, while the number of daily active addresses has dropped. There seems to be a growing discussion in the market about an upcoming ‘altcoin season,’ which could impact Shiba Inu and other cryptocurrencies as trader interest shifts.
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