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Shiba Inu

<ul>
 <li>SHIB, LINK, and ETH saw declines in whale-held supplies on exchanges, indicating potential bullish signals.</li>
 <li>Shibburn reported a 1,460.86% increase in SHIB burn transactions in 24 hours, burning 110,885,723 coins.</li>
 <li>Santiment highlighted decreasing exchange supplies as positive for long-term market sentiment.</li>
</ul>
<p>In a recent development <a href="https://x.com/santimentfeed/status/1801370642811654633?s=46&amp;t=EAqSmGRmSyqfXdRDkzt9vQ" rel="noopener noreferrer nofollow">highlighted</a> by Santiment analytics aggregator, significant movements have been observed in the cryptocurrency market, particularly affecting Ethereum (ETH) along with Shiba Inu (SHIB) and Chainlink (LINK).&nbsp;</p>
<p>According to the latest data released, these three digital assets have experienced a notable positive shift that favors bullish traders. Key metrics from Santiment’s analysis point to a substantial reduction in the holdings of SHIB, LINK, and ETH by major holders on cryptocurrency exchanges.&nbsp;</p>
<p>This decrease in supply among the top 10 wallets has been particularly pronounced since May 27, with SHIB witnessing a decline of 2.4%, LINK dropping by 2.9%, and ETH decreasing by 8.6%. Analysts underscored that such diminishing exchange supplies are widely interpreted as a promising indicator for long-term bullish market sentiments among traders.</p>
<p>Moreover, the SHIB community has also seen a remarkable surge in its burn rate. Within the past 24 hours alone, the burn rate for this meme cryptocurrency skyrocketed by an astounding 1,460.86%. This surge was driven by seven burn transfers, collectively eliminating 110,885,723 Shiba Inu coins from circulation. Notably, a single anonymous whale transaction accounted for the disposal of 100,000,000 SHIB tokens into an irretrievable blockchain wallet.</p>
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   <p lang="en" dir="ltr">In the past 24 hours, there have been a total of 110,885,723 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> tokens burned and 7 transactions. Visit <a href="https://t.co/t0eRMnyZel" rel="noopener noreferrer nofollow">https://t.co/t0eRMnyZel</a> to view the overall total of <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> tokens burned, circulating supply, and more. <a href="https://t.co/SaItvyEBDZ" rel="noopener noreferrer nofollow">pic.twitter.com/SaItvyEBDZ</a></p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1801464850394018301?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 14, 2024</a>
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<p>These developments signify a dynamic period for these cryptocurrencies, with implications that extend beyond immediate market reactions. The combination of reduced exchange holdings and intensified burn rates for SHIB paints a complex but optimistic picture for investors and market participants navigating the evolving landscape of digital assets.</p>
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<p>The post <a href="https://cryptonewsland.com/shiba-inus-supply-decline-signals-long-term-bullish-trend/" rel="noopener noreferrer nofollow">Shiba Inu’s Supply Decline Signals Long-Term Bullish Trend</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Shiba Inu’s Supply Decline Signals Long-Term Bullish Trend

Crypto News Land

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