Shiba

Dream

Shiba Inu

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Shiba Inu (SHIB) is eyeing breaching a new record as October comes to an end today. For a month that has generally been tagged favorable for crypto, Shiba Inu has managed 8.6% growth over the past 30 days, with its&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/">price pegged</a> at $0.000007936. Despite this relatively smaller rate of gain, Shiba Inu has been consistent with its uptrend and is eyeing breaching the $0.000008 resistance level.
While the target is clear, Shiba Inu's metrics are somewhat conflicting. At the time of writing, the trading volume of the token is down by 14% to $115,163,988, a slight indication the buying momentum is fading as the month wraps. Besides the volume, the Shiba Inu burn rate is also at its lowest level in weeks.
<a href="https://www.shibburn.com/">Per</a> data from Shibburn, this deflationary metric is currently down by 94.53%, with a total of 5,914,901 SHIB sent to dead wallets. This figure pales&nbsp;<a href="https://u.today/shiba-inu-shib-burn-rate-soars-567-heres-how-price-reacts">compared</a> to the 121,210,538 SHIB burnt in a single day in the past week.
Amid these conflicting on-chain metrics, Shiba Inu remained resilient as its price stayed in the green zone, an indication of a push to hit impressive new milestones in the short term.
<h2 id="shiba-inu-fundamentals-to-come-through">Shiba Inu fundamentals to come through</h2>
Though Shiba Inu is displaying several conflicting metrics at this time, we can expect its fundamentals to come through in the end. Known for its aggressively positive ecosystem, members of the Shib army are likely to continue&nbsp;<a href="https://u.today/shib-burn-rate-jumps-7700-as-shiba-inu-price-aims-new-move">burning SHIB</a> no matter how little to help sustain the protocol.
The usage of Shibarium, the Layer-2 network, is also billed to grow, especially with the minting of the Shib Dream NFT Collection on the horizon. The push to keep faith in the protocol has recently solidified with promises of&nbsp;<a href="https://u.today/shytoshi-kusama-sends-this-cryptic-message-to-shib-army">innovation launches,</a> as teased by lead developer Shytoshi Kusama.

Shiba Inu (SHIB) Set to Break History With This Next Move

Table of Contents

U_Today

Other articles published on Oct 31, 2023

Twin Peaks Digital Is Changing The Way Web3 Comes To Market

UK Treasury Publish Final Proposal For Crypto Regulation

CoinDCX’s October 2023 PoR Report Reveals Strong Crypto Holdings

Early Access 0.18 patch notes

Russian bank begins tracking customer crypto activities

Solana (SOL) Skyrockets to 11-Month High; Is a Correction Looming?

Join our free newsletter for daily crypto updates!