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Bitcoin Cash [BCH] crosses 6-month high; why then, should investors be wary? [Bitcoin Cash’s price hit its highest since August 2022. ✓Volume surged as BCH could reach overvalued levels soon. #BTC #bch #onecoinmultiplechains #onchainportfolio #bnbgreenfield

Bitcoin Cash [BCH] crosses 6-month high; why then, should investors be wary?

[Bitcoin Cash’s price hit its highest since August 2022.

✓Volume surged as BCH could reach overvalued levels soon. #BTC #bch #onecoinmultiplechains #onchainportfolio #bnbgreenfield

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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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