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Shiba Inu (SHIB): What Burn Uptick, +36K Holders, and New Gaming Center Could Mean

Barry Douglas

ByBarry Douglas

Oct 9, 2022

WhaleStats, a whale tracking site, revealed that a SHIB whale withdrew around 1.7 trillion Shiba Inu coins from the Huobi cryptocurrency exchange. That might suggest that exchange outflow to a personal wallet might be for accumulation reasons (whereas deposits could be for dumping).

Such activities within the marketplace might evolve to bullishness for the meme coin’s price. Moreover, SHIB’s initial collectible card game – Shiba Eternity – entered worldwide mobile platforms to allow users to play and download.

The game has gained attention since then, as iOS and Android users can download it. As the tournament dominated many news wires, how did the canine-themed crypto and the HODLers survive the buzz?

Gaming Arcade

Indeed, the substantial development welcomed some fascinating moves for the alternative token, triggering northbound actions. The unique address count recorded an upside move. Despite the market’s sluggish situation, some of Shiba Inu’s traders stayed optimistic.

Coinmarketcap shows SHIB recorded 1,219,031 holding addresses, translating to an uptick of 36K new holdings within three months. Shibburn’s graph portrayed the mentioned increase amidst an intense drawdown. Besides this, dominant buyers displayed this enthusiasm.

Moreover, Shiba Inu’s burning tracking site confirmed similar uptrends some hours after the game launch. SHIB’s burning rate saw an unexpected surge on October 7, soaring a staggering 1,017% within the previous day, following a mere six million Shiba Inu burned.

While publishing this post, Shiba Inu’s burn rate hovered at the green region, recording a 55% surge. Meanwhile, Shiba Inu’s burn rate climbed as the community focused on the download day.

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You could ask, talking about the elephant inside the room, did all the highlighted developments propel the token’s price? Not really. While publishing this blog, Shiba Inu changed hands at $0.00001, following another price drop. The alternative coin has suffered from volatility absence, whale disappearance, and poor price performance.

Barry Douglas

Barry Douglas

Barry Douglas, a seasoned online trading expert, enriches Big Trends Signals with his extensive industry experience, writing insightful guides and comprehensive reviews to assist traders navigate digital markets.

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