♦️♦️Shiba Inu (SHIB) whales 🐬🐬have moved a significant amount of tokens off exchanges, totaling 16 billion tokens valued at over $705 million, signaling bullish sentiment as it reduces selling pressure.

While #SHIB has seen minor increases in daily and weekly charts, it remains down over the past month. Forecasts from COINCODEX and Changelly suggest a potential rally, with projections of reaching $0.00005853 and $0.00006159 respectively by the end of May 2024, indicating over 150% growth. Additionally, SHIB's burning rate has surged to over 5800%, with over 26 million tokens burned in 24 hours.

While past burns haven't caused significant price movements due to the large circulating supply of 589 trillion tokens, the SHIB team is working on a new burning mechanism that could potentially lead to substantial price increases, though no official launch date has been announced yet.#Memecoins #Binance