Shiba Inu Shows Bullish Signs, Gets Ready For a Rally

Krutika Adani

Among 3 Whale-Favorite Cryptos

Shiba Inu has been one of the top whale choices this altcoin season besides Ethereum and Chainlink.

How Much SHIB Was Moved Out?

Since May 27th, around 2.4% of SHIB on exchange wallets were moved to cold storage.

Whales Moving SHIB Off-Exchanges

Several large investors and whales were spotted moving SHIB out of exchanges which shows long term accumulation.

Demand May Outpace Supply

With a reduced supply of Shiba Inu on exchanges, there might be a supply of SHIB on exchanges causing a demand-led rally.

Surge in Burn Rates

Just two days ago, Shibburn reported the burning of more than 110M Shiba Inu tokens within a single day.