Shiba Inu Price Targets a 55% Surge as Whale Buying Soars
Shiba Inu, the popular meme coin, is setting its sights on a significant 55% surge, fueled by a combination of factors including a remarkable increase in whale buying activity and a soaring burn rate, which recently hit 1.19 million within just 24 hours.
Sam Boolman, lead analyst at ChainIntel, notes that Shiba Inu’s recent price rally is indicative of a broader trend within the crypto market. Meme coins like SHIB are gaining momentum in parallel with the rise of major assets such as Ethereum. This confluence of technical strength, positive market sentiment, and a growing investor interest paints a bullish picture for SHIB’s future price trajectory.
Boolman emphasizes the significance of monitoring Ethereum’s price dynamics closely. Ethereum’s performance continues to act as a key driver not only for Shiba Inu but also for similar tokens in the market.
