Big Good Sign for Shiba Inu (SHIB) Price Revealed by Report

Big Good Sign for Shiba Inu (SHIB) Price Revealed by Report

Analytics aggregator Santiment has published a report on Ethereum and two other notable altcoins: Shiba Inu and Chainlink.

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Analytics aggregator Santiment has published a report on Ethereum and two other notable altcoins: Shiba Inu and Chainlink.

The data he shared shows that a positive market move has just occurred for bullish traders of these three cryptocurrencies.

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SHIB, ETH and LINK Bullish Sign Revealed by Santiment

The tweet posted by the aforementioned data source today shows that the supply of SHIB, LINK, and ETH held by whales on cryptocurrency exchanges has dropped sharply since May 27.

The top 10 wallets on these networks have seen their holdings fall: SHIB fell 2.4%, LINK fell 2.9%, and ETH declined 8.6%.

Santiment’s analysis team stressed that the decline in currency supply is generally believed to be “a long-term bullish signal” for traders.

SHIB burn rate soars by more than 1,000%

Shiba Inu burning transaction-focused analytics platform Shibburn has shared that in the last 24 hours, the burn rate of this popular meme cryptocurrency has seen a notable increase of 1,460.86%.

Seven burned transfers have been made so far, according to data shared by this wallet tracker. In total, the SHIB community has managed to dispose of 110,885,723 Shiba Inu meme coins. Almost all of this amount was burned in a single transfer made by an anonymous whale, with 100,000,000 SHIB destined for a blockchain wallet that cannot be spent forever.

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