base-pidgin

Shiba Inu (SHIB) is showing bullish momentum, with its price moving within an ascending channel. Key points:

Technical Analysis

1. Fibonacci retracement: The 0.618 level serves as key support, signaling a possible continuation of the uptrend.
2. Ascending channel: SHIB's price remains constrained within the channel, signifying sustained bullish sentiment.

Price Targets

1. Immediate targets: $0.00002715 (T1), $0.00003083 (T2), and $0.00003511 (T3).

Market Sentiment

1. Accumulation: Consistent outflows underscore continued accumulation by long-term holders.
2. Funding Rates: Neutral to slightly positive, reflecting a balanced outlook among traders.

Ecosystem Update

1. Burn rate: A significant drop in the burn rate, with only 9.38 million SHIB tokens burned.
2. Shibarium: Steady network activity, with over 791 million completed transactions and 2.095 million addresses recorded.