Shiba Inu
Why Shiba Inu is up 1.0% in the last hour
Analysis
Shiba Inu (SHIB) ticked up about 1.0% over the past hour despite a generally soft on-chain backdrop. U.Today reported that SHIB’s burn rate hit a multiweek low alongside falling network activity, which doesn’t point to a clear bullish catalyst and suggests the move may be more of a short-term fluctuation than news-driven (confidence: 57%).
Contributing Factors (1)
Shiba Inu Burn Rate Hits Multiweek Low as Network Activity Falls
Despite less than 500 Shiba Inu being torched within the past 24 hours, the SHIB price has soared.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.