Three Factors Indicating That the Next Bull Run for Shiba Inu (SHIB) Could Be Imminent.

Several signs indicate that Shiba Inu could be gearing up for a price surge, potentially nearing its highest value of $0.000088. The introduction of Shibarium L3, a Layer 3 solution featuring Fully Homomorphic Encryption for improved security, may propel SHIB’s value higher. Currently, the meme coin market is experiencing increased uncertainty, with major tokens such as Shiba Inu (SHIB) and Dogecoin (DOGE) struggling to surpass strong resistance levels. Shiba Inu is currently priced at $0.00001203, and its trading volume has decreased by 21.95%. Nonetheless, the market capitalization of the token has seen a modest increase of 2.89% in the past day, reaching $7.1 billion. As mentioned before by CNF, SHIB Magazine has published an ambitious prediction suggesting that SHIB’s price could rise to $55.943, which would be a 14 times increase from its current value. Here are three factors indicating that SHIB’s upcoming bull run may be imminent. 1. An Increase in SHIB Burn Rate. The burn rate of Shiba Inu has risen by 32,197% in the last 2,969 hours. A total of 2471.20 SHIB tokens were transferred to the burn wallet recently, along with 23,166.83 tokens being burned just an hour ago. According to Shibburn, more than 24.34 trillion SHIB tokens have been eliminated from circulation. This recent increase in burns highlights the community’s collective aim to manage the circulating supply of SHIB.