SHIB is up by 3% as whale suggests token burn when Shibarium launches

2023-1-10 15:05

SHIB is the best performer amongst the top 20 cryptocurrencies by market cap today.

A Shiba Inu whale has suggested a token burn when Shibarium launches.

Bitcoin continues to maintain its price above $17k.

Shiba Inu could burn trillions of SHIB tokens

A Shiba Inu whale has suggested that the meme token project could burn trillions of its tokens when its Shibarium launches. Shibarium is an upcoming layer-2 solution designed to improve the Shiba Inu ecosystem by providing faster transactions at a lower cost.

$SHIB will burn TRILLIONS of coins when Shibarium is launched 💯🔥

— SHIB HODLER (@ShibaInuHodler) January 8, 2023

This latest cryptocurrency news comes a few days after Shiba Inu confirmed that Shibarium transactions would burn SHIB and use BONE for gas fees. SHIB is up by more than 12% over the last seven days. At press time, the price of Shiba Inu stands at $0.0000094.

The broader cryptocurrency market is having a positive start to the week so far. Bitcoin crossed into the $17k for the first time in weeks while the total cryptocurrency market cap now stands above $850 billion. 

Key levels to watch

The SHIB/USD 4-hour chart is bullish as Shiba Inu has been performing well over the past few days. Shiba Inu is currently outperforming some of the other major cryptocurrencies, including Bitcoin and Ether.

SHIB/USD Chart By TradingView

 

The 14-day relative strength index of SHIB currently reads 72, indicating that the bulls are in charge. An increase in the 14-day RSI could see SHIB enter the overbought region.

The MACD line is also in the positive zone, another indicator that SHIB is currently bullish.

If the bullish trend is maintained, SHIB could surpass its first major resistance level at $0.00001033 over the next few hours. However, the bulls would need to maintain their momentum if SHIB should get the chance to reach the $0.00001148 resistance level for the first time since November 8th, 2022. 

Where to buy Shiba Inu now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy SHIB with eToro today Disclaimer

Bitpanda

Bitpanda is a digital assets brokerage company. It has grown to become one of the most popular crypto exchanges in the world, as it offers a user-friendly interface, it has developed a bunch of great features and it offers a variety of coins to invest in. Bitpanda has also built a reputation for security, and it has never experienced a hack of its data before.

Buy SHIB with Bitpanda today

The post SHIB is up by 3% as whale suggests token burn when Shibarium launches appeared first on CoinJournal.

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when burn launches shib token shibarium whale

Источник: coinjournal.net

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