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Shiba Inu [SHIB] Ethereum was the biggest beneficiary of the massive whale action a few days ago [ETH] pumping water Millions of dollars into the SHIB ecosystem.
This series of like-minded decisions proved that attention to SHIB is undiminished. Similarly, from the end of July he burned as many tokens as he could between the 1st of August and the price rose from $0.0000117 to $0.0000124.
In addition, the SHIB burning rate is decreased An increase of 18.21% over the last 24 hours.
stable stable
Despite the reduced burn rate to 34,031,353, SHIB appears to have weathered the storm. At the time of writing, the price did not appear to be falling as it climbed 1.98% before trading at $0.00001207.
However, it may appear that the decline in burn rate was not enough to bring SHIB to its knees as it crossed its struggling support level.
SHIB has been struggling to maintain support since the early hours of August 4th. It initially stabilized at $0.00001176. It then lost the zone trading at $0.001163. However, SHIB appears to have resisted further declines as it rose to the new green.
Still, making a hasty decision to follow a continued uptrend can be detrimental without looking at other indicators. was found to be able to maintain
Source: Trading View
This is because the green line is above the red line, indicating that buyers are still in control. Additionally, the ADX (yellow) is below 25 (a weak directional move), indicating that it’s not yet time for a long uptrend. Still, the current state of SHIB appeared stable enough to withstand the price plunge.
still take a spot
Amid the ups and downs, SHIB investor interest seems to have been confirmed by a new Binance partnership. The world’s largest cryptocurrency exchange recently launched a debit card in Europe.
Interestingly, SHIB turned out to be worthy enough to be one of the first listed meme tokens. ripple [XRP] When avalanche [AVAX].
I am pleased to inform you @Binance Added SHIB to the list of supported tokens for Binance Cards issued in Europe.
You can now pay using SHIB at over 60 million merchants worldwide. Plus, get up to 8% cashback and zero annual fees or FX fees!https://t.co/0Xj7IXPyt0 pic.twitter.com/FqINtnHFWx
Shib (@Shibtoken) August 5, 2022
This development comes as a follow-up to Shopping.io. integration just a while ago. So how well does SHIB work on-chain?
As mentioned earlier, whale activity has decreased compared to the previous day. as active addresses jumped to 20,648 on his August 2nd declined Up to 4665 according to Santiment data.
Source: Santimento
