SHIB Coin Forming A ‘Bull Flag’? This Could Be The Price Target If Shiba Inu Breaks Out
Posted On November 21, 2024
Shiba Inu (CRYPTO: SHIB) is gaining bullish momentum as traders eye a potential breakout off the back of Bitcoin hitting a new all-time high.
What Happened: Shiba Inu’s burn rate has increased by 209%, with 11.6 million SHIB removed from the ecosystem in the past 24 hours, according to Shibburn data.
On-chain analytics platform Bubblemaps uncovered a whale holding 10% of the SHIB supply, currently valued at $2.5 billion (then worth $10,000) across 150 addresses.
The whale owned 50% of the SHIB supply at the coin’s launch in July 2020.
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