- Shiba Inu (SHIB) is gaining attention from influential social media users and traders who are accumulating the token due to its strong market potential and promising technical patterns.
- Factors such as an increased token burn rate, advancements in its Shibarium layer-2 solution, and a decrease in token supply on exchanges could trigger a SHIB price rally.
- Despite varying opinions, some analysts and traders are confident about the future of SHIB and are accumulating the token.
Shiba Inu (SHIB) is gaining traction among influential traders and social media users, with potential triggers for a price rally including an increased token burn rate, advancements in its Shibarium layer-2 solution, and a decrease in token supply on exchanges.
Shiba Inu Gains Attention from Influential Traders
Despite its rapid price increase over the past year, some analysts believe Shiba Inu (SHIB) still represents a great buying opportunity. One such person is Del Crxpto, a user with almost 100,000 followers who has been accumulating the meme coin, claiming he knows “what’s coming” in the future. He has not shared additional details to avoid affecting his SHIB relationships.
Analysts and Traders Show Confidence in SHIB
Many users have praised Del Crxpto’s decision, describing SHIB as the top meme coin with the biggest potential for a price rally. However, some believe SHIB doesn’t have much room for growth and suggest that other assets might be a better choice. Another trader, Ali Martinez, has also placed buying orders on Shiba Inu, citing that the asset’s price trajectory has been “forming a bull flag” on a daily chart, raising hopes for a 300% rally.
Potential Triggers for a SHIB Price Rally
Key factors that could trigger a SHIB price rally include an increased token burn rate, advancements in its Shibarium layer-2 solution, and a decrease in token supply on exchanges. The SHIB burn rate has taken off recently, with millions of tokens removed from circulation. The development of Shibarium, the meme coin’s layer-2 scaling solution, has also seen major updates. Additionally, the decreasing supply of SHIB tokens on crypto exchanges, as indicated by CryptoQuant, may signal an incoming rally as it reduces the immediate selling pressure.
Conclusion
Despite varying opinions, the future of Shiba Inu (SHIB) looks promising to many traders and analysts. With potential triggers such as an increased token burn rate, advancements in its Shibarium layer-2 solution, and a decrease in token supply on exchanges, SHIB could see a significant price rally in the future.
