- Shiba Inu has maintained an 8.6% growth over the past month, aiming to breach the $0.000008 resistance level.
- Despite positive trends, Shiba Inu faces challenges, with a 14% drop in trading volume and a significant decrease in its burn rate.
- Shiba Inu’s resilience is driven by strong community support and upcoming developments like the Shibarium and Shib Dream NFT Collection.
Shiba Inu (SHIB) has emerged as a standout contender, defying market norms and aiming for new record highs as October comes to a close. Over the past 30 days, Shiba Inu has managed to maintain an impressive 8.6% growth rate.
With its price currently standing at $0.00000774, the token is on the verge of breaching the significant resistance level of $0.000008. However, despite the positive trends, the token has experienced a 14% drop in trading volume, indicating a slight fading of the buying momentum as the month wraps up.
Additionally, Shiba Inu’s burn rate, a crucial deflationary metric, has significantly decreased, down by 94.53%, according to Shibburn data. This decline is in stark contrast to the previous week, where a substantial 121,210,538 SHIB were burnt in a single day.
What sets Shiba Inu apart in this uncertain landscape is its resilience, fueled by unwavering community support and exciting upcoming developments. The SHIB Army continues to burn SHIB tokens, even in small quantities, demonstrating a strong commitment to sustaining the protocol.
Furthermore, the imminent launch of Shibarium, the Layer-2 network, promises increased usage and efficiency within the Shiba Inu ecosystem. Additionally, investors and enthusiasts have their sights set on the much-anticipated Shib Dream NFT Collection, an innovation that is expected to boost Shiba Inu’s standing in the market.
