The price of SHIB targets a 15% increase, on-chain data indicates a bullish rise 🚀🤯

Despite the ongoing uncertainty in the market, the meme coin $SHIB has captured the attention of the cryptocurrency space with its suspicious on-chain data. While the cryptocurrency market is struggling, the price of Shiba Inu has added 10.81% to its value over the past seven days.

Furthermore, marketers are asking questions like "Will #SHIB rise again?" and "Is this the right time to invest in meme coins?" In this article, we will reveal the on-chain sentiment and potential short-term price predictions for SHIB to understand the price outlook for the largest meme coin by market capitalization.

The SHIB burn rate rises by over 8000% after an anonymous wallet burn!

According to the latest data from Shibburn (Shiba Inu burn tracker), an anonymous wallet "0x55B" transferred 1 billion SHIB tokens to the official burn address in a single transaction. Valued at $13,050, the price of SHIB was trading at 0.00001305 at that time.