Shiba Inu Burn Rate Surges 3,609% As Dogecoin Whales Move 5.8 Billion DOGE: What Is Going On?
Posted On December 16, 2024
Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) are gaining momentum as Bitcoin reaches a new all-time high above $107,000.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin (CRYPTO: DOGE) | $0.4118 | $60.6 billion | +1.9% | -5.5% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002784 | $16.4 billion | +0.4% | -6.5% |
Trader Notes: Benzinga’s technical analysis shows that SHIB’s Relative Strength Index (RSI) stands at 42.85.
In a bullish trend, the 40-50 RSI range often serves as support.
The 50-day Simple Moving Average (SMA) is crossing above the 100-day and 200-day SMAs—a pattern typically indicative of building bullish momentum.
Prominent trader Cold Blooded Shiller noted that DOGE is “trading as if it’s poised to get an ETF approval before Solana.” Meanwhile, crypto trader …
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