- In the past week, more than 2 trillion SHIBs have been withdrawn from the exchanges.
- Shibarium was on track as the total number of portfolios reached the 100,000 mark.
After weeks of waiting since Shibarium’s highly anticipated launch, we finally started to think about its effects Shiba Inus [SHIB] graphic. While SHIB’s price remained low, there was massive outflow from the exchanges, indicating investor confidence.
Realistic or not, here it is SHIB’s market cap in terms of BTC
Shiba Inu paints his map green!
The launch of Shibarium did not go as many expected as SHIB, the flagship of the Shiba Inu ecosystem, failed to respond positively. However, the scenario has changed, as it turns out CurrencyMarketCapSHIB is up more than 2.5% in the past 24 hours.
At the time of writing, it was trading at $0.000008121 with a market cap of over $4.7 billion. It was also accompanied by a double-digit increase in trading volume. Interestingly, the seeds for this upward trend were sown during that time SHIB‘The price fell.
Twitter crypto analyst Ali_Charts revealed that as many as two trillion SHIB tokens were removed from exchanges in the past week, reflecting investor confidence in SHIB’s trend reversal.
#Shiba Inu | A staggering 2 trillion $SHIB tokens are taken from known sources #crypto wallets change over the past week. pic.twitter.com/MiWMNUp7jY
— Ali (@ali_charts) August 27, 2023
The price increase also had a positive impact on the token’s social performance. This was evident in the huge spike in social volume and weighted sentiment.
In addition, LunarCrush’s facts revealed that bearish sentiment around SHIB is down more than 60% in the past 24 hours, while the Altrank improved.
Source: Sentiment
Interestingly, there is whale activity SHIB rose on August 28, at the same time as the price turned bullish. Thanks to the price uptrend, SHIB’s MVRV ratio and one-day price volatility have also increased over the past 24 hours.
Source: Sentiment
Read Shiba Inus [SHIB] Price Prediction 2023-24
Both the Shiba Inu Money Flow Index (MFI) and the Chaikin Money Flow (CMF) recorded increases and moved towards the neutral border, which was bullish. However, the Relative Strength Index (RSI) continued to move sideways.
Source: TradingView
A brief look at Shibarium
While the Shiba Inu price turned bullish, Shibariumdaily trade also gained upside momentum after falling. At the time of writing, Shibarium had made more than 440,000 trades. It had over 101,000 wallet addresses and an average block time of five seconds.
Source: Shibariumscan.io