The Shiba Inu token has celebrated its fifth anniversary, showcasing multiple positive signals both in trading charts and overall market activity.
Bullish Signals in the Market
Popular crypto trader Vegeta noted that the monthly chart for SHIB "remains strong," with a stable demand level. Analyst Joe Swanson pointed out a classic cup-and-handle formation supported by a double bottom and whale accumulation. He suggests a potential price increase of 70% from current levels.
Rising Retail Investor Interest
Data from IntoTheBlock shows a 3.9% increase in daily active addresses, while large transaction volumes fell by 69.6%, indicating heightened retail activity even as whales remain steady. SHIB marketing lead, Lucie, reflected on the token’s journey since its launch on August 1, 2020.
Token Burn Data
Shibburn reports a surge in burn rate by 5,837.6%, with 4.12 million SHIB burned in a single day. Shibariumscan confirms over 4.5 million daily transactions, indicating healthy utility on the Shibarium network.
While it remains uncertain whether SHIB can replicate its explosive growth, current data points to a market heating up and increasing investor interest.
