Shiba Inu ($SHIB) is experiencing steady growth today, November 29, 2024, with its price currently at $0.000026. This marks a 2.99% increase in the past 24 hours, contributing to its impressive 40.54% rise over the past month. The meme coin's market capitalization now stands at $15.33 billion, placing it at #16 among cryptocurrencies
Recent trends in the $SHIB ecosystem show heightened activity in Shibarium, its layer-2 blockchain, which has led to a significant surge in its burn rate. Over 400 trillion SHIB tokens have been burned to date, with the burn rate spiking by over 33,000% in the last 24 hours alone. This reduction in supply is bolstering bullish sentiment among investors
With trading volumes exceeding $1 billion and technical indicators like its moving averages signaling bullish momentum, SHIB appears poised for further gains. Analysts speculate that it may reach $0.00003 by the end of the month, maintaining its upward trajectory
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