Shiba

Bitcoin

Shiba Inu

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Shiba Inu (SHIB) entered this week on a strong note and amid a broader sentiment of altcoin consolidation. While industry leader Bitcoin (BTC) is down by 0.88%, Shiba Inu has&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">managed to pick up 0.88% growth</a> at the time of writing to $0.000008069, flashing an optimistic view toward this new week.</p>
<h2 id="three-shiba-inu-triggers">Three Shiba Inu triggers</h2>
<p dir="ltr">As the week is shaping up and Shiba Inu is showing growth divergence from Bitcoin, three key factors that can accelerate its growth performance include its trading volume and whale action, its deflationary or burn rate, and Shibarium total value locked (TVL).&nbsp;</p>
<p dir="ltr">The rate at which the free market stacks up Shiba Inu is crucial as it will not only drive up trading volume but will help boost liquidity to support a healthy market. The goal in this regard is simple and is based on building on the&nbsp;<a href="https://u.today/shiba-inu-shib-net-flows-skyrocket-by-1666-heres-implication" rel="noopener noreferrer nofollow">current growth trends</a> in this metric, which are up by 71% to $193,840,004 in the past 24 hours.</p>
<p dir="ltr">Contributions from whales are also billed to impact this metric, as a positive uptick from large buyers can make a significant difference. Shiba Inu's&nbsp;<a href="https://u.today/shiba-inu-burn-rate-jumps-535-with-quarter-billion-shib-burned" rel="noopener noreferrer nofollow">burn rate</a> has formed an anchor for the better part of the year at times when all other metrics are not having as much impact.</p>
<p dir="ltr">The burn rate is currently in its most distressed state, with just about 1.3 million SHIB tokens burnt thus far, an uptick in this metric can change the game significantly concerning price.</p>
<h2 id="shibarium-factor">Shibarium factor</h2>
<p dir="ltr">The last key factor to watch out for is&nbsp;<a href="https://u.today/shibarium-eyes-new-milestone-of-4-million-transactions" rel="noopener noreferrer nofollow">Shibarium</a>. Will the chain run smoothly moving forward? Will new decentralized applications that can drive transaction surges be launched? Will an attack occur?</p>
<p dir="ltr">A favorably managed protocol can return confidence to users and investors in the Shiba Inu ecosystem and change the game for all stakeholders this week and beyond.</p>

Shiba Inu (SHIB): Three Things to Look Out for This Week

Table of Contents

U_Today

Other articles published on Nov 6, 2023

SOFI Stock Price: Can SoFi Reclaim 52-Week High Price By Year End?

Ionise protocol unveils first money market on Zilliqa

VeChain (VET) Secures Groundbreaking Patent in US: Details

Binance Launchpool: Empowering Users for Successful Crypto Investment

$MEME’s New Contender: Memeinator Soars Past $1M Raise in Under 4 Weeks

Elon Musk Launches AI Chatbot, GROK Token Soars!

Join our free newsletter for daily crypto updates!