Key Points:
- Whale activity may signal a price rebound for SHIB.
- Shiba Inu’s popularity and burn rate are decreasing.
- A new DAO could bring fresh life to Shiba Inu.
Shiba Inu (SHIB) is facing some challenges, but there might be hope for a price rebound soon. Despite losing popularity and a lower burn rate, some big investors (called whales) are showing increased interest in SHIB, which could lead to a price rise.
Whale Accumulation Indicates Potential Price Rise
Shiba Inu’s price recently dropped by 6.5%, following the general trend in the crypto market. But while the price fell, whale activity spiked to the highest level seen in a month. This means that big investors are buying more SHIB, possibly because they see a good opportunity with the lower prices.
Data from IntoTheBlock shows that the net flow of large holders turned positive between August 26 and 27. This suggests that these big investors are adding more SHIB tokens to their portfolios, which could be a sign that the price might go up soon.
Shiba Inu DAO Set to Empower the Community
In addition to whale activity, another big change for Shiba Inu is the upcoming launch of a decentralized autonomous organization (DAO). This DAO will allow SHIB holders to vote on future projects and decisions. It gives the community more control over where Shiba Inu is headed.
The idea, announced by SHIB’s Head of Marketing, Lucie, is to make sure that the people who own SHIB have a say in its future. This move could help re-energize the community and lead to new projects that increase the value of SHIB over time.
Declining Popularity and Burn Rate Present Challenges
Despite the positive signs, Shiba Inu is dealing with a drop in popularity. According to Santiment, SHIB’s social dominance has fallen to 0.268%, the lowest in a year. This means fewer people are talking about SHIB, which could hurt its price.
The burn rate is also down. Only 261,691 SHIB tokens were burned in the last 24 hours, a big drop from the 7 million burned the day before. The burn rate is important because it reduces the number of tokens in circulation, which can help boost the price. The sharp drop in the burn rate could suggest that SHIB holders are losing interest, or they might be holding onto their tokens, expecting the price to rise in the future.
Shiba Inu’s Future Outlook
Shiba Inu’s price drop is part of a broader market trend. But with the increase in whale activity and the upcoming launch of the DAO, there’s a chance SHIB could recover. If the price rebounds as some predict, it might jump by 35%, reaching $0.00001740.
The drop in popularity and burn rate is a concern, but these issues might be temporary. If the community supports the new DAO and whales keep buying, Shiba Inu could see better days ahead.
