SHIB Surges 3.20%; DOGE Sees $12 Million Whale Transfer to Robinhood: Report

Shiba Inu Soars with 3.20% Price Increase

Shiba Inu (SHIB) has experienced a notable surge in its valuation. The meme token climbed 3.20% in 24 hours, reaching $0.0000183. This represents the first significant price increase for SHIB since June 7, signaling a potential reversal of its recent downtrend.

Increased Burn Rate and Whale Activity

Accompanying the price rally, SHIB's burn rate has spiked by 44.67%. Over 17,259,834 SHIB tokens have been burned, reducing the token's circulating supply and indicating a bullish trend.

Furthermore, whale activity involving SHIB has increased by 45.81%. Additionally, a substantial $12 million transfer of Dogecoin to Robinhood has been observed.

Bullish Sentiment

These developments collectively suggest a growing bullish sentiment surrounding SHIB. The increase in burn rate, whale activity, and the positive price action indicate a potential recovery for the meme coin.