Hold onto your hats, crypto enthusiasts! Shiba Inu (SHIB) is howling its way to the top of the charts today, October 9. This little doggy is wagging its tail with joy, as it leaps into the spotlight with a commendable 4% price jump in just 24 hours, trading at a spicy $0.00001786. And if the past 30 days are anything to bark about, SHIB has nearly zoomed up by 40%, riding the mini bull wave that kicked off at September's end.
What’s got this meme coin on the rise, you ask? Well, it seems like SHIB lovers are moving their tokens away from those big, centralized exchanges, opting for safer, self-custody methods. This shift is shrinking the SHIB exchange reserves, hinting at a bullish vibe as it eases the selling pressure.
And let’s not forget SHIB’s fiery side! The meme coin has been busy with its burning mechanism, torching up over 400% more tokens in the last 24 hours alone. Almost 3 million SHIB tokens have been sent to the great crypto beyond, making them scarcer and potentially upping their value if demand stays strong.
Big spenders are also getting in on the action. Transactions over $100,000 have seen a 5.5% uptick, lighting up the bullish signs. Plus, the buzz around Shiba Inu’s layer-2 blockchain solution, Shibarium, adds more fuel to the fire. Although Shibarium has hit a few bumps recently with daily transactions dipping below 10,000, it still holds promise. Its mission? To scale up Shiba Inu, slash transaction fees, and speed things up.
So, keep your eyes peeled for SHIB's next move, because it seems like this underdog might just have some more tricks up its sleeve!
