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Chiliz distances itself from recent crypto drama but CHZ was… CHZ took on losses despite Chiliz not being directly exposed to events that triggered losses. CHZ bulls are looking to take over but the coast may not be clear yet.#buildtogether #bicasso #crypto101

Chiliz distances itself from recent crypto drama but CHZ was…

CHZ took on losses despite Chiliz not being directly exposed to events that triggered losses.

CHZ bulls are looking to take over but the coast may not be clear yet.#buildtogether #bicasso #crypto101

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Shiba Inu Whales Move 705B SHIB As Burn Rate Spikes 5800% According to Arkham Intelligence, Shiba Inu (SHIB) whales have moved about 705 billion tokens worth over $16 million out of exchanges. Moving assets away from exchanges is considered bullish as it reduces the selling pressure on the market. SHIB whales may be expecting a price rebound soon. SHIB has rallied 4% in the daily charts and 2.8% in the weekly. However, the asset is still down by 8.4% in the 14-day charts and over 15% in the last month. According to CoinCodex, Shiba Inu (SHIB) could break out into a rally over the next few weeks. The platform anticipates SHIB to hit $0.00005853 on May 31, 2024. Reaching $0.00005853 from current levels would translate to a growth of over 150%. Changelly also paints a bullish picture for SHIB over the next few weeks. The platform anticipates the popular dog-themed crypto to hit $0.00006159 on May 30, 2024. Shiba Inu (SHIB) burn rate spike over 5800% SHIB also witnessed a burn rate spike amid the massive whale movements. According to Shibburn, SHIB’s burn rate spiked to over 5800%. The whale movements may have led to increased activity, consequently leading to more burns. According to Shibburn, over 26 million SHIB tokens were incinerated in within a span of 24 hours. SHIB burns have rarely led to major price movements. Shiba Inu has about 589 trillion tokens in circulation. Therefore, the number of tokens burnt is a miniscule percent of the total. Nonetheless, the SHIB team has said that they working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the team can reduce the project’s supply, we may witness a massive price spike. However, the SHIB team has not revealed any official launch date for the new burn mechanism. #buythedip #Memecoins
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