SHIB burn surges, bears gamble madly, is a bull opportunity brewing?
Data shows that the recent burn volume of SHIB has skyrocketed, and the circulating supply has now dropped to 589.26 trillion. In stark contrast, a large number of bears are ramping up bets on a downturn, while on-chain data is emitting completely different signals: market chips are highly concentrated, and signs of major players' layout are emerging.
The burn mechanism is reducing the circulating supply, and the supply-demand model suggests that SHIB may welcome a strong rebound. Moreover, behind the burn, there are more 'mysteries' regarding on-chain dynamics, which could become the key triggers for SHIB's price to initiate a new round of increases.
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